New York State Common Retirement Fund Trims Stock Position in JOYY Inc. (NASDAQ:YY)

New York State Common Retirement Fund decreased its stake in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 18.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 about 0.19% of JOYY worth $4,221,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Krane Funds Advisors LLC increased its stake in shares of JOYY by 4.0% in the first 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 acquired a new stake in shares of JOYY in the fourth quarter worth $57,840,000. Vanguard Group Inc. increased its stake in shares of JOYY by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 1,129,472 shares of the information services provider's stock worth $47,268,000 after acquiring an additional 13,560 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of JOYY by 1.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 825,299 shares of the information services provider's stock worth $34,539,000 after acquiring an additional 13,710 shares during the period. Finally, Tiger Pacific Capital LP increased its stake in shares of JOYY by 23.1% in the fourth quarter. Tiger Pacific Capital LP now owns 680,676 shares of the information services provider's stock worth $28,486,000 after acquiring an additional 127,829 shares during the period. Institutional investors and hedge funds own 36.83% of the company's stock.

JOYY Price Performance

Shares of YY stock traded down $1.41 during trading on Friday, reaching $52.03. The company's stock had a trading volume of 187,290 shares, compared to its average volume of 523,246. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 15.72 and a beta of 0.21. The stock's 50-day moving average price is $49.65 and its 200 day moving average price is $45.69. JOYY Inc. has a 1-year low of $30.91 and a 1-year high of $55.31.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen began 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.