Charles Schwab Investment Management Inc. Increases Holdings in JOYY Inc. $YY

Key Points

• Charles Schwab Investment Management Inc. increased its stake in JOYY Inc. by 17.1%, now holding 155,448 shares valued at approximately $6.53 million.
• Other institutional investors, including Barclays PLC and Aquatic Capital Management LLC, also significantly raised their positions in JOYY during the fourth quarter, indicating growing interest in the company.
• JOYY's stock is currently trading at $52.54, with a 52-week range of $30.91 to $55.31 and a consensus target price of $35.00 from analysts.

Charles Schwab Investment Management Inc. increased its holdings in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 17.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 155,448 shares of the information services provider's stock after purchasing an additional 22,691 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.29% of JOYY worth $6,526,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Raiffeisen Bank International AG bought a new position in shares of JOYY in the fourth quarter valued at approximately $85,000. Kathmere Capital Management LLC bought a new stake in JOYY during the first quarter worth $217,000. D Orazio & Associates Inc. purchased a new stake in JOYY in the first quarter worth $235,000. Asset Management One Co. Ltd. purchased a new stake in JOYY in the first quarter worth $253,000. Finally, Vise Technologies Inc. purchased a new stake in JOYY in the fourth quarter worth $284,000. Institutional investors and hedge funds own 36.83% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen started coverage on JOYY in a research report on Monday, May 19th. They issued a "hold" rating for the company. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $35.00.

JOYY Stock Up 4.6%

YY traded up $2.39 on Monday, hitting $54.06. The company had a trading volume of 623,870 shares, compared to its average volume of 523,246. The company has a market cap of $2.91 billion, a PE ratio of 16.33 and a beta of 0.21. The business's fifty day simple moving average is $51.59 and its 200 day simple moving average is $47.07. JOYY Inc. has a 12-month low of $30.91 and a 12-month high of $55.31.

JOYY 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.