MASO CAPITAL PARTNERS Ltd Lowers Stock Position in JOYY Inc. (NASDAQ:YY)

Key Points

• MASO CAPITAL PARTNERS Ltd has reduced its stake in JOYY Inc. by 29.2%, now holding 228,200 shares worth approximately $9.58 million, making it the company's fourth largest position.
• Other institutional investors, including Raiffeisen Bank International AG and Kathmere Capital Management LLC, have also recently initiated or increased their positions in JOYY.
• JOYY's stock is currently priced at $50.20, with a 12-month performance range between $30.91 and $55.31, and it has received a "hold" rating from Wall Street Zen.

MASO CAPITAL PARTNERS Ltd lessened its holdings in JOYY Inc. (NASDAQ:YY - Free Report) by 29.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 228,200 shares of the information services provider's stock after selling 94,200 shares during the period. JOYY accounts for approximately 14.5% of MASO CAPITAL PARTNERS Ltd's portfolio, making the stock its 4th largest holding. MASO CAPITAL PARTNERS Ltd owned approximately 0.42% of JOYY worth $9,580,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of YY. Vontobel Holding Ltd. increased its position in JOYY by 34.1% during the first 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 last quarter. QRG Capital Management Inc. increased its position in JOYY by 45.1% during the first 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 last quarter. JPMorgan Chase & Co. increased its position in shares of JOYY by 56.5% in the fourth quarter. JPMorgan Chase & Co. now owns 121,109 shares of the information services provider's stock worth $5,068,000 after acquiring an additional 43,731 shares in the last quarter. Asset Management One Co. Ltd. acquired a new stake in shares of JOYY in the first quarter worth $253,000. Finally, Legal & General Group Plc increased its position in shares of JOYY by 4.9% in the fourth quarter. Legal & General Group Plc now owns 97,917 shares of the information services provider's stock worth $4,098,000 after acquiring an additional 4,609 shares in the last quarter. Hedge funds and other institutional investors own 36.83% of the company's stock.

Analyst Ratings Changes

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

JOYY Stock Performance

Shares of YY stock traded up $0.08 during trading on Wednesday, hitting $50.27. 284,948 shares of the company were exchanged, compared to its average volume of 523,246. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 15.19 and a beta of 0.21. The business's 50-day simple moving average is $50.68 and its 200 day simple moving average is $46.24. 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.