Charles Schwab Investment Management Inc. Grows Position 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. lifted its holdings in JOYY Inc. (NASDAQ:YY - Free Report) by 17.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 155,448 shares of the information services provider's stock after purchasing an additional 22,691 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.29% of JOYY worth $6,526,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raiffeisen Bank International AG purchased a new position in shares of JOYY in the fourth quarter valued at $85,000. Kathmere Capital Management LLC purchased a new position in shares of JOYY in the first quarter valued at $217,000. D Orazio & Associates Inc. purchased a new position in shares of JOYY in the first quarter valued at $235,000. Asset Management One Co. Ltd. purchased a new position in shares of JOYY in the first quarter valued at $253,000. Finally, Vise Technologies Inc. purchased a new position in shares of JOYY in the fourth quarter valued at $284,000. 36.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

JOYY Stock Performance

NASDAQ YY traded up $2.39 during trading hours on Friday, reaching $54.06. The stock had a trading volume of 623,870 shares, compared to its average volume of 523,246. The stock has a fifty day moving average of $51.51 and a 200 day moving average of $47.02. The stock has a market cap of $2.91 billion, a P/E ratio of 16.33 and a beta of 0.21. JOYY Inc. has a 52-week low of $30.91 and a 52-week 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.