Jupiter Asset Management Ltd. Boosts Stake in JOYY Inc. (NASDAQ:YY)

Key Points

• Jupiter Asset Management Ltd. increased its stake in JOYY Inc. by 133.6% in the first quarter, now holding 320,200 shares valued at approximately $13.4 million.
• Other institutional investors, including OLP CAPITAL MANAGEMENT and OVERSEA CHINESE BANKING Corp Ltd., have also significantly increased their investments in JOYY, indicating growing interest in the company.
• Analysts from Wall Street Zen have assigned a "hold" rating on JOYY's stock, currently trading at $50.52 with a market cap of $2.72 billion.

Jupiter Asset Management Ltd. raised its position in JOYY Inc. (NASDAQ:YY - Free Report) by 133.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 320,200 shares of the information services provider's stock after purchasing an additional 183,100 shares during the quarter. Jupiter Asset Management Ltd. owned 0.59% of JOYY worth $13,442,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OLP CAPITAL MANAGEMENT Ltd purchased a new position in shares of JOYY during the fourth quarter worth approximately $57,840,000. OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of JOYY by 4,414.1% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 435,878 shares of the information services provider's stock worth $18,111,000 after acquiring an additional 426,222 shares during the period. Wealthquest Corp purchased a new position in shares of JOYY during the first quarter worth approximately $16,137,000. BNP Paribas Financial Markets purchased a new position in shares of JOYY during the fourth quarter worth approximately $15,448,000. Finally, D. E. Shaw & Co. Inc. increased its position in shares of JOYY by 1,793.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 304,355 shares of the information services provider's stock worth $12,737,000 after acquiring an additional 288,285 shares during the period. 36.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen assumed coverage on shares of JOYY in a research note on Monday, May 19th. They set a "hold" rating on the stock.

JOYY Price Performance

Shares of JOYY stock opened at $50.52 on Friday. The firm has a fifty day moving average price of $50.42 and a 200 day moving average price of $46.13. JOYY Inc. has a 1 year low of $30.91 and a 1 year high of $55.31. The stock has a market cap of $2.72 billion, a PE ratio of 15.26 and a beta of 0.21.

About JOYY

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.

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