JOYY Inc. (NASDAQ:YY) Shares Sold by GF Fund Management CO. LTD.

GF Fund Management CO. LTD. lowered its position in JOYY Inc. (NASDAQ:YY - Free Report) by 38.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & 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 about 0.05% of JOYY worth $1,224,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Yunqi Capital Ltd grew its position in JOYY by 102.3% during the fourth quarter. Yunqi Capital Ltd now owns 1,710,987 shares of the information services provider's stock worth $71,605,000 after buying an additional 865,285 shares during the period. Krane Funds Advisors LLC grew its holdings in shares of JOYY by 4.0% in the 1st quarter. Krane Funds Advisors LLC now owns 1,559,646 shares of the information services provider's stock worth $65,474,000 after acquiring an additional 59,565 shares during the period. OLP CAPITAL MANAGEMENT Ltd purchased a new position in JOYY in the 4th quarter valued at approximately $57,840,000. Vanguard Group Inc. raised its holdings in JOYY by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 1,129,472 shares of the information services provider's stock worth $47,268,000 after purchasing an additional 13,560 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in JOYY by 1.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 825,299 shares of the information services provider's stock worth $34,539,000 after purchasing an additional 13,710 shares during the last quarter. Institutional investors and hedge funds own 36.83% of the company's stock.

Wall Street Analyst Weigh In

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

JOYY Stock Down 0.4%

Shares of NASDAQ YY traded down $0.19 during trading on Friday, hitting $50.68. 89,953 shares of the company traded hands, compared to its average volume of 513,223. The firm has a market capitalization of $2.73 billion, a P/E ratio of 15.31 and a beta of 0.21. The company has a 50-day moving average price of $46.27 and a 200-day moving average price of $44.33. JOYY Inc. has a 1 year low of $30.91 and a 1 year high of $55.31.

About JOYY

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.