New York State Common Retirement Fund Sells 22,700 Shares of JOYY Inc. (NASDAQ:YY)

New York State Common Retirement Fund decreased its holdings in JOYY Inc. (NASDAQ:YY - Free Report) by 18.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 100,555 shares of the information services provider's stock after selling 22,700 shares during the quarter. New York State Common Retirement Fund owned approximately 0.19% of JOYY worth $4,221,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. OLP CAPITAL MANAGEMENT Ltd acquired a new position in shares of JOYY in the 4th quarter valued at approximately $57,840,000. Wealthquest Corp acquired a new stake in JOYY during the first quarter valued at approximately $16,137,000. BNP Paribas Financial Markets acquired a new stake in JOYY during the fourth quarter valued at approximately $15,448,000. D. E. Shaw & Co. Inc. raised its stake in JOYY by 1,793.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 304,355 shares of the information services provider's stock valued at $12,737,000 after buying an additional 288,285 shares in the last quarter. Finally, AI Squared Management Ltd acquired a new stake in JOYY during the fourth quarter valued at approximately $10,362,000. Institutional investors and hedge funds own 36.83% of the company's stock.

JOYY Stock Performance

Shares of NASDAQ YY traded up $0.44 during mid-day trading on Thursday, reaching $53.44. 287,831 shares of the company traded hands, compared to its average volume of 523,246. The stock has a market cap of $2.88 billion, a PE ratio of 16.15 and a beta of 0.21. The company's fifty day moving average is $49.24 and its two-hundred day moving average is $45.49. JOYY Inc. has a fifty-two week low of $30.91 and a fifty-two week high of $55.31.

Wall Street Analyst Weigh In

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

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.