MY.Alpha Management HK Advisors Ltd Cuts Stake in JOYY Inc. $YY

Key Points

• MY.Alpha Management HK Advisors Ltd significantly reduced its stake in JOYY Inc. by 77.9%, dropping its ownership to just 127,427 shares after selling 447,891 shares during the first quarter.
• Other institutional investors such as Aberdeen Group plc and BRIGHT VALLEY CAPITAL Ltd made sizeable investments in JOYY, indicating a mixed sentiment among major stakeholders.
• Wall Street analysts rated JOYY with a "hold" rating as it trades with a market cap of $2.71 billion and has shown fluctuations between a 12-month low of $30.91 and a high of $55.31.

MY.Alpha Management HK Advisors Ltd lowered its position in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 77.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 127,427 shares of the information services provider's stock after selling 447,891 shares during the quarter. JOYY accounts for 2.7% of MY.Alpha Management HK Advisors Ltd's investment portfolio, making the stock its 14th largest holding. MY.Alpha Management HK Advisors Ltd owned 0.24% of JOYY worth $5,349,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Aberdeen Group plc purchased a new position in shares of JOYY in the 1st quarter valued at about $552,000. BRIGHT VALLEY CAPITAL Ltd increased 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 valued at $55,113,000 after purchasing an additional 936,841 shares in the last quarter. Prudential PLC purchased a new position in shares of JOYY in the 1st quarter valued at about $44,090,000. Nuveen LLC purchased a new position in JOYY during the 1st quarter valued at about $16,926,000. Finally, Invesco Ltd. raised its position in JOYY by 43.8% during the first quarter. Invesco Ltd. now owns 206,654 shares of the information services provider's stock worth $8,675,000 after acquiring an additional 62,914 shares during the last quarter. Hedge funds and other institutional investors own 36.83% of the company's stock.

Wall Street Analyst Weigh In

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

JOYY Stock Performance

Shares of YY opened at $50.37 on Monday. The stock has a market cap of $2.71 billion, a P/E ratio of 15.22 and a beta of 0.21. The company has a 50-day moving average of $51.18 and a two-hundred day moving average of $46.60. JOYY Inc. has a 12-month low of $30.91 and a 12-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.

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