Vanguard Group Inc. Sells 55,810 Shares of JOYY Inc. (NASDAQ:YY)

Vanguard Group Inc. decreased its holdings in JOYY Inc. (NASDAQ:YY - Free Report) by 3.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,373,055 shares of the information services provider's stock after selling 55,810 shares during the quarter. Vanguard Group Inc. owned approximately 2.21% of JOYY worth $52,327,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in YY. CWM LLC grew its holdings in shares of JOYY by 168.0% during the 3rd quarter. CWM LLC now owns 930 shares of the information services provider's stock worth $35,000 after purchasing an additional 583 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of JOYY by 31.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the information services provider's stock worth $45,000 after purchasing an additional 343 shares during the period. Assetmark Inc. grew its holdings in shares of JOYY by 62.2% during the 3rd quarter. Assetmark Inc. now owns 2,226 shares of the information services provider's stock worth $85,000 after purchasing an additional 854 shares during the period. Signaturefd LLC grew its holdings in shares of JOYY by 14.7% during the 3rd quarter. Signaturefd LLC now owns 4,020 shares of the information services provider's stock worth $153,000 after purchasing an additional 514 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in shares of JOYY by 15.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,251 shares of the information services provider's stock worth $162,000 after purchasing an additional 582 shares during the period. Hedge funds and other institutional investors own 36.83% of the company's stock.

JOYY Trading Down 0.4 %

JOYY stock traded down $0.15 during midday trading on Tuesday, hitting $34.78. The stock had a trading volume of 777,241 shares, compared to its average volume of 722,679. The stock has a market cap of $2.16 billion, a P/E ratio of 7.00 and a beta of 0.38. JOYY Inc. has a 12 month low of $24.12 and a 12 month high of $43.20. The business has a fifty day moving average price of $32.07 and a 200 day moving average price of $35.90.

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 analysts' consensus estimates of $0.64 by $0.13. JOYY had a return on equity of 5.13% and a net margin of 13.31%. The company had revenue of $569.84 million during the quarter, compared to the consensus estimate of $572.51 million. During the same period in the previous year, the firm posted $0.49 earnings per share. On average, equities analysts anticipate that JOYY Inc. will post 3.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. StockNews.com downgraded shares of JOYY from a "buy" rating to a "hold" rating in a research report on Monday, March 18th. Benchmark reaffirmed a "hold" rating on shares of JOYY in a report on Tuesday, January 2nd. Finally, Bank of America reiterated a "neutral" rating and issued a $35.00 price objective on shares of JOYY in a report on Monday, March 25th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $38.00.

JOYY 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.