Vanguard Group Inc. Sells 4,834 Shares of 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. cut its holdings in JOYY Inc. (NASDAQ:YY - Free Report) by 0.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,124,638 shares of the information services provider's stock after selling 4,834 shares during the quarter. Vanguard Group Inc. owned approximately 2.09% of JOYY worth $47,212,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Raiffeisen Bank International AG bought a new position in JOYY in the fourth quarter valued at about $85,000. Kathmere Capital Management LLC bought a new position in JOYY in the first quarter valued at about $217,000. D Orazio & Associates Inc. bought a new position in JOYY in the first quarter valued at about $235,000. Asset Management One Co. Ltd. bought a new position in JOYY in the first quarter valued at about $253,000. Finally, Vise Technologies Inc. bought a new position in JOYY in the fourth quarter valued at about $284,000. Institutional investors own 36.83% of the company's stock.

JOYY Stock Performance

YY traded up $2.39 during midday trading on Friday, reaching $54.06. 623,870 shares of the company were exchanged, compared to its average volume of 523,246. JOYY Inc. has a one year low of $30.91 and a one year high of $55.31. The stock has a market capitalization of $2.91 billion, a P/E ratio of 16.33 and a beta of 0.21. The stock's 50-day simple moving average is $51.51 and its 200 day simple moving average is $47.02.

Analysts Set New Price Targets

Separately, Wall Street Zen began coverage on JOYY in a report on Monday, May 19th. They issued a "hold" rating on the stock. One equities research 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.