OVERSEA CHINESE BANKING Corp Ltd Acquires 426,222 Shares of JOYY Inc. (NASDAQ:YY)

OVERSEA CHINESE BANKING Corp Ltd grew its holdings in JOYY Inc. (NASDAQ:YY - Free Report) by 4,414.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 435,878 shares of the information services provider's stock after buying an additional 426,222 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd owned 0.81% of JOYY worth $18,111,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of JOYY by 33.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 132,757 shares of the information services provider's stock valued at $5,556,000 after acquiring an additional 33,009 shares during the period. Vontobel Holding Ltd. increased its position in shares of JOYY by 34.1% during the 1st 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 in the last quarter. QRG Capital Management Inc. lifted its holdings in JOYY by 45.1% during the 1st quarter. QRG Capital Management Inc. now owns 9,585 shares of the information services provider's stock valued at $402,000 after purchasing an additional 2,980 shares during the last quarter. JPMorgan Chase & Co. boosted its position in JOYY by 56.5% in the fourth quarter. JPMorgan Chase & Co. now owns 121,109 shares of the information services provider's stock valued at $5,068,000 after buying an additional 43,731 shares in the last quarter. Finally, Asset Management One Co. Ltd. acquired a new position in JOYY in the first quarter valued at about $253,000. 36.83% of the stock is owned by institutional investors.

JOYY Stock Up 0.6%

YY stock traded up $0.32 during midday trading on Monday, reaching $53.67. The company's stock had a trading volume of 125,779 shares, compared to its average volume of 513,466. The business's 50-day simple moving average is $47.41 and its 200-day simple moving average is $44.83. JOYY Inc. has a 52 week low of $30.91 and a 52 week high of $55.31. The stock has a market cap of $2.89 billion, a PE ratio of 16.21 and a beta of 0.21.

Analyst Ratings Changes

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

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.