Vanguard Group Inc. Cuts Position in JOYY Inc. $YY

Key Points

• Vanguard Group Inc. has reduced its holdings in JOYY Inc. by 0.4%, owning approximately 2.09% of the company, valued at $47.21 million as of the latest SEC filing.
• Several institutional investors, including Krane Funds Advisors LLC and OVERSEA CHINESE BANKING Corp Ltd, have increased their stakes significantly in JOYY, indicating strong institutional interest.
• JOYY's stock has a current market cap of $2.79 billion, a P/E ratio of 15.66, and analysts have an average rating of "Moderate Buy" with a consensus target price of $35.00.

Vanguard Group Inc. lowered its position in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 0.4% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 1,124,638 shares of the information services provider's stock after selling 4,834 shares during the quarter. Vanguard Group Inc. owned about 2.09% of JOYY worth $47,212,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raiffeisen Bank International AG acquired a new stake in JOYY during the 4th quarter worth about $85,000. Kathmere Capital Management LLC acquired a new stake in JOYY during the 1st quarter worth about $217,000. D Orazio & Associates Inc. acquired a new stake in JOYY during the 1st quarter worth about $235,000. Asset Management One Co. Ltd. acquired a new stake in JOYY during the 1st quarter worth about $253,000. Finally, Vise Technologies Inc. acquired a new stake in JOYY during the 4th quarter worth about $284,000. Institutional investors and hedge funds own 36.83% of the company's stock.

JOYY Stock Performance

Shares of JOYY stock traded up $2.00 on Thursday, hitting $53.54. The company's stock had a trading volume of 701,363 shares, compared to its average volume of 523,246. JOYY Inc. has a 1 year low of $30.91 and a 1 year high of $55.31. The firm has a fifty day moving average price of $51.48 and a 200-day moving average price of $46.96. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 16.18 and a beta of 0.21.

Wall Street Analyst Weigh In

Separately, Wall Street Zen assumed coverage on JOYY in a research report on Monday, May 19th. They set a "hold" rating for the company. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $35.00.

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.