Wealthquest Corp Invests $16.14 Million in 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 13F filing with the Securities and Exchange Commission. The firm purchased 388,376 shares of the information services provider's stock, valued at approximately $16,137,000. JOYY makes up approximately 1.6% of Wealthquest Corp's investment portfolio, making the stock its 12th largest holding. Wealthquest Corp owned about 0.72% of JOYY as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Global Retirement Partners LLC raised its position in JOYY by 71.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,072 shares of the information services provider's stock valued at $45,000 after purchasing an additional 447 shares during the last quarter. Rhumbline Advisers boosted its position in JOYY by 63.0% during the 4th quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider's stock worth $55,000 after buying an additional 510 shares during the period. SBI Securities Co. Ltd. bought a new stake in JOYY during the 4th quarter worth approximately $25,000. BI Asset Management Fondsmaeglerselskab A S increased its position in JOYY by 54.8% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,495 shares of the information services provider's stock valued at $104,000 after acquiring an additional 883 shares during the period. Finally, Atria Wealth Solutions Inc. raised its stake in shares of JOYY by 8.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 12,500 shares of the information services provider's stock valued at $523,000 after acquiring an additional 1,000 shares during the last quarter. 36.83% of the stock is owned by institutional investors.

JOYY Price Performance

Shares of YY traded up $1.35 during trading hours on Wednesday, hitting $50.53. 277,685 shares of the stock were exchanged, compared to its average volume of 506,452. JOYY Inc. has a fifty-two week low of $28.98 and a fifty-two week high of $55.31. The business has a 50-day moving average of $44.59 and a 200-day moving average of $43.77. The firm has a market capitalization of $2.72 billion, a P/E ratio of 15.27 and a beta of 0.21.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Wall Street Zen began coverage on shares of JOYY in a research note on Monday, May 19th. They issued a "hold" rating on the stock. Benchmark raised JOYY from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th.

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.