JOYY Inc. $YY is Tiger Pacific Capital LP's 4th Largest Position

Key Points

• Tiger Pacific Capital LP reduced its shareholding in JOYY Inc. by 18.9%, now holding 552,114 shares, which represent 8.3% of its investment portfolio, making JOYY its 4th largest position.
• Other institutional investors have also shown varying interest in JOYY, with Krane Funds Advisors LLC increasing their stake by 4.0% and BRIGHT VALLEY CAPITAL Ltd boosting their position by 249.2% in the first quarter.
• Analysts generally hold a positive outlook on JOYY, with Citigroup reiterating a "buy" rating and the stock currently holding a consensus rating of "buy" according to MarketBeat.

Tiger Pacific Capital LP cut its holdings in JOYY Inc. (NASDAQ:YY - Free Report) by 18.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 552,114 shares of the information services provider's stock after selling 128,562 shares during the period. JOYY accounts for about 8.3% of Tiger Pacific Capital LP's portfolio, making the stock its 4th largest holding. Tiger Pacific Capital LP owned approximately 1.03% of JOYY worth $23,178,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in YY. OLP CAPITAL MANAGEMENT Ltd acquired a new position in JOYY in the fourth quarter valued at approximately $57,840,000. Prudential PLC acquired a new position in JOYY in the first quarter valued at approximately $44,090,000. BRIGHT VALLEY CAPITAL Ltd lifted its holdings in JOYY by 249.2% in the first quarter. BRIGHT VALLEY CAPITAL Ltd now owns 1,312,841 shares of the information services provider's stock valued at $55,113,000 after acquiring an additional 936,841 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in JOYY by 4,414.1% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 435,878 shares of the information services provider's stock valued at $18,111,000 after acquiring an additional 426,222 shares during the last quarter. Finally, Nuveen LLC acquired a new position in JOYY in the first quarter valued at approximately $16,926,000. 36.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on YY. Wall Street Zen began coverage on JOYY in a research report on Monday, May 19th. They issued a "hold" rating on the stock. Citigroup reissued a "buy" rating on shares of JOYY in a research report on Tuesday, September 2nd. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy".

JOYY Price Performance

Shares of YY stock traded down $1.29 during trading hours on Friday, reaching $61.67. 309,557 shares of the company's stock were exchanged, compared to its average volume of 523,246. The company has a market cap of $3.32 billion, a P/E ratio of 18.63 and a beta of 0.21. The company's 50 day moving average is $53.25 and its two-hundred day moving average is $47.76. JOYY Inc. has a 1 year low of $30.91 and a 1 year high of $55.31.

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.