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

A number of other hedge funds have also recently added to or reduced their stakes in YY. BRIGHT VALLEY CAPITAL Ltd raised its holdings in shares of 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 worth $55,113,000 after purchasing an additional 936,841 shares during the period. Vontobel Holding Ltd. raised its holdings in shares of JOYY by 34.1% in the 1st quarter. Vontobel Holding Ltd. now owns 7,835 shares of the information services provider's stock worth $329,000 after purchasing an additional 1,992 shares during the period. QRG Capital Management Inc. raised its holdings in shares of JOYY by 45.1% in the 1st quarter. QRG Capital Management Inc. now owns 9,585 shares of the information services provider's stock worth $402,000 after purchasing an additional 2,980 shares during the period. Asset Management One Co. Ltd. purchased a new position in shares of JOYY in the 1st quarter worth about $253,000. Finally, Nuveen Asset Management LLC raised its holdings in shares of JOYY by 5.5% in the 4th quarter. Nuveen Asset Management LLC now owns 344,400 shares of the information services provider's stock worth $14,413,000 after purchasing an additional 18,100 shares during the period. 36.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on YY. Wall Street Zen began coverage on JOYY in a report on Monday, May 19th. They set a "hold" rating on the stock. Citigroup reiterated a "buy" rating on shares of JOYY in a report on Tuesday, September 2nd. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy".

JOYY Stock Up 0.9%

Shares of YY traded up $0.53 during mid-day trading on Monday, hitting $62.57. The stock had a trading volume of 1,298,365 shares, compared to its average volume of 523,246. The company has a market cap of $3.37 billion, a PE ratio of 18.90 and a beta of 0.21. The company's fifty day simple moving average is $52.27 and its two-hundred day simple moving average is $47.35. JOYY Inc. has a fifty-two week low of $30.91 and a fifty-two week 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.