JOYY Inc. (NASDAQ:YY) Shares Sold by E Fund Management Co. Ltd.

Key Points

• E Fund Management Co. Ltd. reduced its stake in JOYY Inc. by 9.6%, selling 15,007 shares to own approximately 141,681 shares valued at $5,948,000.
• JOYY's stock has a market capitalization of $2.72 billion and is currently trading around $50.44, with a 52 week low of $30.91 and a high of $55.31.
• Wall Street analysts have issued a hold rating on JOYY, indicating a cautious outlook on the stock's future performance.

E Fund Management Co. Ltd. lowered its stake in JOYY Inc. (NASDAQ:YY - Free Report) by 9.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 141,681 shares of the information services provider's stock after selling 15,007 shares during the quarter. E Fund Management Co. Ltd. owned about 0.26% of JOYY worth $5,948,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Raiffeisen Bank International AG acquired a new stake in JOYY during the fourth quarter valued at approximately $85,000. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of JOYY by 54.8% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,495 shares of the information services provider's stock valued at $104,000 after purchasing an additional 883 shares during the last quarter. Kathmere Capital Management LLC purchased a new stake in shares of JOYY during the first quarter valued at $217,000. D Orazio & Associates Inc. purchased a new stake in shares of JOYY during the first quarter valued at $235,000. Finally, Asset Management One Co. Ltd. purchased a new stake in JOYY during the first quarter valued at about $253,000. Institutional investors and hedge funds own 36.83% of the company's stock.

JOYY Stock Performance

Shares of YY stock opened at $50.44 on Wednesday. JOYY Inc. has a 52 week low of $30.91 and a 52 week high of $55.31. The stock's fifty day moving average is $50.98 and its 200-day moving average is $46.46. The stock has a market capitalization of $2.72 billion, a PE ratio of 15.24 and a beta of 0.21.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen assumed coverage on shares of JOYY in a report on Monday, May 19th. They set a "hold" rating on the stock.

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.

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