JOYY Inc. $YY Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its stake in JOYY Inc. by 39.9%, owning 62,942 shares after selling 41,789 shares during the first quarter.
• Despite the reduction by Wellington, QRG Capital Management Inc. and OVERSEA CHINESE BANKING Corp Ltd increased their positions by 45.1% and 7.5% respectively in the same quarter.
• JOYY stock is currently rated as a Moderate Buy with a consensus price target set at $35.00 according to analysts.

Wellington Management Group LLP decreased its holdings in JOYY Inc. (NASDAQ:YY - Free Report) by 39.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 62,942 shares of the information services provider's stock after selling 41,789 shares during the quarter. Wellington Management Group LLP owned 0.12% of JOYY worth $2,642,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of YY. Northern Trust Corp boosted its stake in JOYY by 66.0% in the 4th quarter. Northern Trust Corp now owns 94,126 shares of the information services provider's stock worth $3,939,000 after purchasing an additional 37,435 shares during the period. BNP Paribas Financial Markets bought a new position in shares of JOYY in the 4th quarter valued at approximately $15,448,000. Balyasny Asset Management L.P. bought a new position in shares of JOYY in the 4th quarter valued at approximately $285,000. BRIGHT VALLEY CAPITAL Ltd raised its stake in shares of JOYY by 46.5% in the 4th quarter. BRIGHT VALLEY CAPITAL Ltd now owns 376,000 shares of the information services provider's stock valued at $15,736,000 after acquiring an additional 119,369 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in JOYY in the 4th quarter valued at approximately $2,653,000. Institutional investors own 36.83% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on YY shares. Citigroup reissued a "buy" rating on shares of JOYY in a report on Tuesday. Wall Street Zen initiated coverage on JOYY in a research report on Monday, May 19th. They issued a "hold" rating for the company. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, JOYY presently has a consensus rating of "Buy".

JOYY Price Performance

Shares of JOYY stock traded up $2.17 on Friday, reaching $62.04. The company had a trading volume of 1,346,951 shares, compared to its average volume of 523,246. The firm's 50-day moving average price is $52.04 and its two-hundred day moving average price is $47.29. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 18.74 and a beta of 0.21. 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.