StockNews.com Initiates Coverage on JOYY (NASDAQ:YY)

Analysts at StockNews.com started coverage on shares of JOYY (NASDAQ:YY - Get Free Report) in a note issued to investors on Saturday. The brokerage set a "hold" rating on the information services provider's stock.

Separately, Benchmark raised shares of JOYY from a "hold" rating to a "buy" rating in a report on Tuesday, February 25th.

JOYY Stock Performance

NASDAQ YY traded down $0.24 during trading hours on Friday, hitting $42.01. The company had a trading volume of 345,548 shares, compared to its average volume of 484,827. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 12.69 and a beta of 0.21. JOYY has a 52 week low of $27.88 and a 52 week high of $55.31. The firm has a 50 day simple moving average of $42.91 and a 200 day simple moving average of $41.24.

Institutional Investors Weigh In On JOYY

A number of large investors have recently added to or reduced their stakes in YY. Charles Schwab Investment Management Inc. grew its stake in shares of JOYY by 33.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 132,757 shares of the information services provider's stock valued at $5,556,000 after buying an additional 33,009 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of JOYY in the fourth quarter worth approximately $501,000. Rhumbline Advisers increased its stake in shares of JOYY by 63.0% in the fourth 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. Ritholtz Wealth Management raised its holdings in JOYY by 69.1% during the 4th quarter. Ritholtz Wealth Management now owns 37,026 shares of the information services provider's stock valued at $1,550,000 after buying an additional 15,127 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in JOYY by 56.5% during the 4th quarter. JPMorgan Chase & Co. now owns 121,109 shares of the information services provider's stock valued at $5,068,000 after buying an additional 43,731 shares during the period. Hedge funds and other institutional investors own 36.83% of the company's stock.

About JOYY

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.