Ritholtz Wealth Management Grows Stock Holdings in JOYY Inc. $YY

Key Points

• Ritholtz Wealth Management increased its stake in JOYY Inc. by 10.4%, holding a total of 61,412 shares valued at approximately $2.55 million by the end of the second quarter.
• In the first quarter, several institutional investors made significant moves in JOYY, with OVERSEA CHINESE BANKING Corp Ltd raising its stake by 4,414.1% and Prudential PLC acquiring a stake worth $44 million.
• Citigroup reaffirmed a "buy" rating for JOYY, and the stock currently holds a consensus rating of "Buy", reflecting positive expectations from analysts.

Ritholtz Wealth Management grew its position in JOYY Inc. (NASDAQ:YY - Free Report) by 10.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,412 shares of the information services provider's stock after acquiring an additional 5,800 shares during the quarter. Ritholtz Wealth Management owned about 0.11% of JOYY worth $2,552,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in YY. Prudential PLC purchased a new stake in shares of JOYY in the first quarter valued at $44,090,000. BRIGHT VALLEY CAPITAL Ltd raised its stake in shares of JOYY by 249.2% in the first quarter. BRIGHT VALLEY CAPITAL Ltd now owns 1,312,841 shares of the information services provider's stock valued at $55,113,000 after acquiring an additional 936,841 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of JOYY by 4,414.1% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 435,878 shares of the information services provider's stock valued at $18,111,000 after acquiring an additional 426,222 shares during the period. Nuveen LLC purchased a new stake in shares of JOYY in the first quarter valued at $16,926,000. Finally, Wealthquest Corp purchased a new stake in shares of JOYY in the first quarter valued at $16,137,000. Hedge funds and other institutional investors own 36.83% of the company's stock.

Analyst Ratings Changes

Separately, Citigroup reissued a "buy" rating on shares of JOYY in a research note on Tuesday, September 2nd. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy".

JOYY Price Performance

YY stock opened at $57.12 on Friday. The company has a market capitalization of $3.07 billion, a PE ratio of 17.26 and a beta of 0.21. JOYY Inc. has a 12 month low of $30.91 and a 12 month high of $55.31. The firm's 50-day moving average is $56.93 and its 200 day moving average is $50.03.

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.

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