Wealthquest Corp Buys Shares of 388,376 JOYY Inc. (NASDAQ:YY)

Wealthquest Corp purchased a new stake in JOYY Inc. (NASDAQ:YY - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 388,376 shares of the information services provider's stock, valued at approximately $16,137,000. JOYY comprises about 1.6% of Wealthquest Corp's portfolio, making the stock its 12th largest holding. Wealthquest Corp owned approximately 0.72% of JOYY as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of YY. Yunqi Capital Ltd lifted its position in shares of JOYY by 102.3% in the 4th quarter. Yunqi Capital Ltd now owns 1,710,987 shares of the information services provider's stock worth $71,605,000 after purchasing an additional 865,285 shares during the period. Krane Funds Advisors LLC grew its stake in JOYY by 12.0% during the 4th quarter. Krane Funds Advisors LLC now owns 1,500,081 shares of the information services provider's stock valued at $62,778,000 after acquiring an additional 160,545 shares in the last quarter. OLP CAPITAL MANAGEMENT Ltd purchased a new stake in JOYY during the 4th quarter valued at about $57,840,000. Vanguard Group Inc. lifted its holdings in shares of JOYY by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 1,129,472 shares of the information services provider's stock worth $47,268,000 after acquiring an additional 13,560 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of JOYY by 1.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 825,299 shares of the information services provider's stock worth $34,539,000 after acquiring an additional 13,710 shares during the last quarter. 36.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

JOYY Stock Up 0.6%

YY traded up $0.28 during trading on Friday, reaching $50.90. 246,492 shares of the company's stock were exchanged, compared to its average volume of 508,880. The company has a market capitalization of $2.74 billion, a P/E ratio of 15.38 and a beta of 0.21. The business has a 50 day moving average price of $45.20 and a 200 day moving average price of $43.95. JOYY Inc. has a fifty-two week low of $29.70 and a fifty-two week high of $55.31.

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.