JOYY Inc. $YY Shares Sold by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC reduced its stake in JOYY Inc. by 34.5%, owning 10,494 shares after selling 5,539 shares during the first quarter.
• Multiple institutional investors purchased shares of JOYY in the first quarter, contributing to a total ownership of 36.83% among institutional investors and hedge funds.
• JOYY Inc.'s stock has a current price of $54.06 and holds an average rating of "Buy" from analysts, with a recent "hold" rating from Wall Street Zen.

Rafferty Asset Management LLC lowered its holdings in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 34.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,494 shares of the information services provider's stock after selling 5,539 shares during the quarter. Rafferty Asset Management LLC's holdings in JOYY were worth $441,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Causeway Capital Management LLC acquired a new position in JOYY during the first quarter valued at approximately $3,685,000. Dodge & Cox boosted its stake in JOYY by 50.0% in the 1st quarter. Dodge & Cox now owns 52,466 shares of the information services provider's stock valued at $2,203,000 after purchasing an additional 17,500 shares during the period. SVB Wealth LLC bought a new stake in JOYY in the 1st quarter valued at $57,000. Aberdeen Group plc acquired a new position in JOYY in the 1st quarter valued at $552,000. Finally, BRIGHT VALLEY CAPITAL Ltd raised its holdings in JOYY by 249.2% in the 1st 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 in the last quarter. 36.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Citigroup reissued a "buy" rating on shares of JOYY in a report on Tuesday, September 2nd. Wall Street Zen initiated coverage on JOYY in a research report on Monday, May 19th. They issued a "hold" rating on the stock. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, JOYY currently has a consensus rating of "Buy".

JOYY Trading Up 0.9%

Shares of JOYY stock traded up $0.53 during trading hours on Friday, reaching $62.57. The stock had a trading volume of 1,298,365 shares, compared to its average volume of 523,246. The stock's 50 day moving average is $52.27 and its 200 day moving average is $47.37. The firm has a market capitalization of $3.37 billion, a PE ratio of 18.90 and a beta of 0.21. JOYY Inc. has a twelve month low of $30.91 and a twelve month 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.