AI Squared Management Ltd trimmed its holdings in JOYY Inc. (NASDAQ:YY - Free Report) by 24.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 187,700 shares of the information services provider's stock after selling 59,904 shares during the period. JOYY accounts for about 7.3% of AI Squared Management Ltd's portfolio, making the stock its 4th biggest holding. AI Squared Management Ltd owned approximately 0.35% of JOYY worth $7,880,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Vontobel Holding Ltd. increased its stake in shares of JOYY by 34.1% during the first 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 period. QRG Capital Management Inc. increased its stake in shares of JOYY by 45.1% during the first 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 period. JPMorgan Chase & Co. increased its stake in shares of JOYY by 56.5% during the fourth 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 period. Asset Management One Co. Ltd. bought a new position in shares of JOYY during the first quarter worth approximately $253,000. Finally, Legal & General Group Plc increased its stake in shares of JOYY by 4.9% during the fourth 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 period. 36.83% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, Wall Street Zen initiated coverage on JOYY in a research note on Monday, May 19th. They set a "hold" rating on the stock.
Check Out Our Latest Stock Analysis on JOYY
JOYY Price Performance
JOYY stock traded down $0.35 during mid-day trading on Friday, reaching $50.65. 94,962 shares of the company were exchanged, compared to its average volume of 523,246. The company has a fifty day simple moving average of $50.87 and a 200-day simple moving average of $46.38. JOYY Inc. has a 12 month low of $30.91 and a 12 month high of $55.31. The firm has a market cap of $2.73 billion, a PE ratio of 15.30 and a beta of 0.21.
About JOYY
(
Free Report)
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.
Read More

Before you consider JOYY, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and JOYY wasn't on the list.
While JOYY currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.