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. grew its stake in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 133.6% in the first quarter, according to the company in its most recent Form 13F filing with the 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 approximately 0.59% of JOYY worth $13,442,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. OLP CAPITAL MANAGEMENT Ltd purchased a new position in JOYY in the 4th quarter worth approximately $57,840,000. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of JOYY by 4,414.1% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 435,878 shares of the information services provider's stock worth $18,111,000 after buying an additional 426,222 shares during the period. Wealthquest Corp purchased a new stake in shares of JOYY during the 1st quarter worth $16,137,000. BNP Paribas Financial Markets purchased a new stake in JOYY in the fourth quarter valued at about $15,448,000. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of JOYY by 1,793.9% in 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 purchasing an additional 288,285 shares during the last quarter. Hedge funds and other institutional investors own 36.83% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen initiated coverage on JOYY in a report on Monday, May 19th. They set a "hold" rating on the stock.

JOYY Stock Performance

Shares of JOYY stock traded up $0.08 during trading hours on Thursday, hitting $50.27. The company's stock had a trading volume of 284,948 shares, compared to its average volume of 523,246. JOYY Inc. has a twelve month low of $30.91 and a twelve month high of $55.31. The firm has a fifty day moving average of $50.77 and a 200-day moving average of $46.27. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 15.19 and a beta of 0.21.

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.