AI Squared Management Ltd Has $7.88 Million Stock Position in JOYY Inc. (NASDAQ:YY)

Key Points

• AI Squared Management Ltd has reduced its holdings in JOYY Inc. by 24.2%, making JOYY its 4th largest position within the portfolio.
• JOYY's stock currently has a market capitalization of $2.71 billion with a P/E ratio of 15.19 and a beta of 0.21, indicating lower volatility compared to the market.
• Institutional investors and hedge funds own approximately 36.83% of JOYY's stock, reflecting increased interest in the company among major investment players.

AI Squared Management Ltd trimmed its stake in JOYY Inc. (NASDAQ:YY - Free Report) by 24.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 187,700 shares of the information services provider's stock after selling 59,904 shares during the quarter. JOYY makes up about 7.3% of AI Squared Management Ltd's portfolio, making the stock its 4th biggest holding. AI Squared Management Ltd owned 0.35% of JOYY worth $7,880,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of YY. Vontobel Holding Ltd. lifted its holdings in JOYY by 34.1% during the 1st quarter. Vontobel Holding Ltd. now owns 7,835 shares of the information services provider's stock worth $329,000 after purchasing an additional 1,992 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in JOYY by 45.1% during the 1st quarter. QRG Capital Management Inc. now owns 9,585 shares of the information services provider's stock worth $402,000 after purchasing an additional 2,980 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in JOYY by 56.5% during the 4th quarter. JPMorgan Chase & Co. now owns 121,109 shares of the information services provider's stock worth $5,068,000 after purchasing an additional 43,731 shares during the last quarter. Asset Management One Co. Ltd. acquired a new stake in JOYY during the 1st quarter worth approximately $253,000. Finally, Legal & General Group Plc lifted its holdings in JOYY by 4.9% during the 4th quarter. Legal & General Group Plc now owns 97,917 shares of the information services provider's stock worth $4,098,000 after purchasing an additional 4,609 shares during the last quarter. 36.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen began coverage on JOYY in a research note on Monday, May 19th. They issued a "hold" rating on the stock.

JOYY Trading Down 0.7%

Shares of NASDAQ:YY traded down $0.35 on Monday, reaching $50.65. 94,962 shares of the company traded hands, compared to its average volume of 523,246. The business's 50-day simple moving average is $50.87 and its 200 day simple moving average is $46.40. JOYY Inc. has a 52 week low of $30.91 and a 52 week high of $55.31. The stock has a market capitalization of $2.73 billion, a P/E ratio of 15.30 and a beta of 0.21.

JOYY Company Profile

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. It operates through two segments, BIGO and All Other. The company operates Bigo Live, a social live streaming platform, that provides an interactive online stage for users to host and watch live streaming sessions, share their life moments, showcase their talents, and interact with people worldwide; Likee, a short-form video social platform, which enables users to discover, create, and share short videos, with video creation tools and personalized feeds; imo, an instant messenger platform, that provides audio and video communication services; Hago, a social networking platform that offers casual games integrating social features, such as audio and video multi-user chatrooms and 3D virtual interactive party games; and Shopline, a smart commerce platform, that provides solutions and services to enable merchants in creating and growing their brands online and reach customers through various sales channels, including e-commerce platforms, social commerce, and physical retail stores.