Polunin Capital Partners Ltd Acquires New Shares in JOYY Inc. (NASDAQ:YY)

Polunin Capital Partners Ltd bought a new stake in JOYY Inc. (NASDAQ:YY - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 110,800 shares of the information services provider's stock, valued at approximately $4,399,000. JOYY comprises about 0.8% of Polunin Capital Partners Ltd's holdings, making the stock its 17th biggest position. Polunin Capital Partners Ltd owned 0.18% of JOYY at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale boosted its stake in JOYY by 6.9% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 5,057 shares of the information services provider's stock worth $196,000 after buying an additional 325 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in JOYY by 31.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the information services provider's stock worth $45,000 after buying an additional 343 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in JOYY by 6.3% during the third quarter. Asset Management One Co. Ltd. now owns 6,786 shares of the information services provider's stock worth $259,000 after buying an additional 402 shares in the last quarter. Squarepoint Ops LLC boosted its stake in JOYY by 5.9% during the first quarter. Squarepoint Ops LLC now owns 7,757 shares of the information services provider's stock worth $242,000 after buying an additional 431 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in JOYY by 14.7% during the third quarter. Signaturefd LLC now owns 4,020 shares of the information services provider's stock worth $153,000 after buying an additional 514 shares in the last quarter. Institutional investors and hedge funds own 36.83% of the company's stock.

JOYY Stock Performance

Shares of NASDAQ:YY traded up $0.24 on Friday, hitting $34.06. The stock had a trading volume of 216,073 shares, compared to its average volume of 683,418. JOYY Inc. has a twelve month low of $24.12 and a twelve month high of $43.20. The firm's 50 day moving average price is $31.98 and its 200-day moving average price is $35.95. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 6.85 and a beta of 0.38.

JOYY (NASDAQ:YY - Get Free Report) last issued its earnings results on Monday, March 18th. The information services provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.64 by $0.13. JOYY had a net margin of 13.31% and a return on equity of 5.13%. The company had revenue of $569.84 million for the quarter, compared to the consensus estimate of $572.51 million. During the same quarter in the previous year, the company earned $0.49 EPS. As a group, sell-side analysts predict that JOYY Inc. will post 3.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Bank of America reiterated a "neutral" rating and set a $35.00 price target on shares of JOYY in a research note on Monday, March 25th. Benchmark restated a "hold" rating on shares of JOYY in a research note on Tuesday, January 2nd. Finally, StockNews.com downgraded shares of JOYY from a "buy" rating to a "hold" rating in a research note on Monday, March 18th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, JOYY currently has an average rating of "Hold" and a consensus target price of $38.00.

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. The company operates Bigo Live, a social live streaming platform that allows users to live stream specific moments, such as showcase talents, socialize, and connect with other users worldwide; Likee, a short-form video social platform that focuses on enabling users to create short-form video; Hago, a multiuser social networking platform that provides casual games; imo, an instant messaging application with functions, including video calls and other communication tools, such as group calls, document sharing, etc.; and Shopline, a smart commerce enabler that provides an integrated omnichannel platform for merchants to create and grow brands online and reach customers.