Swedbank AB Sells 12,300 Shares of JOYY Inc. $YY

Key Points

• Swedbank AB reduced its stake in JOYY Inc. by 38.9%, selling 12,300 shares and holding a total of 19,300 shares worth $802,000 at the end of the most recent reporting period.
• Several institutional investors made significant investments in JOYY, with new stakes from SVB Wealth LLC, Kathmere Capital Management LLC, and others, contributing to 36.83% institutional ownership of the stock.
• Despite recent changes in holdings, Citigroup has maintained a "buy" rating for JOYY, reflecting overall positive analyst sentiment with a consensus rating of "Buy".

Swedbank AB decreased its holdings in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 38.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 19,300 shares of the information services provider's stock after selling 12,300 shares during the period. Swedbank AB's holdings in JOYY were worth $802,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. SVB Wealth LLC bought a new stake in shares of JOYY in the 1st quarter valued at $57,000. Kathmere Capital Management LLC acquired a new position in shares of JOYY during the 1st quarter worth about $217,000. D Orazio & Associates Inc. acquired a new position in shares of JOYY during the 1st quarter worth about $235,000. Asset Management One Co. Ltd. acquired a new stake in JOYY in the 1st quarter valued at about $253,000. Finally, Aprio Wealth Management LLC lifted its stake in JOYY by 33.0% in the 1st quarter. Aprio Wealth Management LLC now owns 6,427 shares of the information services provider's stock valued at $270,000 after purchasing an additional 1,596 shares during the last quarter. Institutional investors own 36.83% of the company's stock.

Analyst Ratings Changes

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

JOYY Price Performance

Shares of NASDAQ:YY opened at $62.63 on Tuesday. JOYY Inc. has a 1 year low of $30.91 and a 1 year high of $55.31. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 18.92 and a beta of 0.21. The company's 50 day simple moving average is $54.69 and its 200 day simple moving average is $48.43.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.