GF Fund Management CO. LTD. Cuts Stake in JOYY Inc. (NASDAQ:YY)

GF Fund Management CO. LTD. decreased its holdings in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 38.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,167 shares of the information services provider's stock after selling 18,144 shares during the period. GF Fund Management CO. LTD. owned approximately 0.05% of JOYY worth $1,224,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OLP CAPITAL MANAGEMENT Ltd acquired a new stake in shares of JOYY in the 4th quarter worth approximately $57,840,000. Yunqi Capital Ltd grew its holdings in shares of JOYY by 102.3% in the 4th quarter. Yunqi Capital Ltd now owns 1,710,987 shares of the information services provider's stock worth $71,605,000 after acquiring an additional 865,285 shares during the period. Wealthquest Corp acquired a new stake in shares of JOYY in the 1st quarter worth approximately $16,137,000. BNP Paribas Financial Markets acquired a new stake in shares of JOYY in the 4th quarter worth approximately $15,448,000. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of JOYY by 1,793.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 304,355 shares of the information services provider's stock worth $12,737,000 after acquiring an additional 288,285 shares during the period. Institutional investors and hedge funds own 36.83% of the company's stock.

JOYY Stock Up 0.6%

Shares of NASDAQ:YY traded up $0.30 during trading on Tuesday, reaching $50.98. The stock had a trading volume of 449,097 shares, compared to its average volume of 513,991. The business has a fifty day moving average price of $46.67 and a 200-day moving average price of $44.55. The stock has a market cap of $2.74 billion, a P/E ratio of 15.40 and a beta of 0.21. JOYY Inc. has a fifty-two week low of $30.91 and a fifty-two week high of $55.31.

Analyst Ratings Changes

Separately, Wall Street Zen initiated coverage on 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.