E Fund Management Co. Ltd. boosted its position in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 222.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,843 shares of the information services provider's stock after purchasing an additional 88,157 shares during the period. JOYY makes up 0.3% of E Fund Management Co. Ltd.'s portfolio, making the stock its 28th biggest position. E Fund Management Co. Ltd. owned 0.21% of JOYY worth $5,075,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in YY. FMR LLC increased its holdings in shares of JOYY by 497,089.5% in the 3rd quarter. FMR LLC now owns 2,709,683 shares of the information services provider's stock valued at $103,266,000 after acquiring an additional 2,709,138 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of JOYY by 18.9% in the 3rd quarter. Acadian Asset Management LLC now owns 1,721,881 shares of the information services provider's stock worth $65,590,000 after buying an additional 273,875 shares during the last quarter. Krane Funds Advisors LLC boosted its holdings in shares of JOYY by 14.3% in the 3rd quarter. Krane Funds Advisors LLC now owns 1,393,184 shares of the information services provider's stock valued at $53,094,000 after buying an additional 174,774 shares during the period. Yunqi Capital Ltd grew its position in shares of JOYY by 10.8% during the 3rd quarter. Yunqi Capital Ltd now owns 512,638 shares of the information services provider's stock valued at $19,537,000 after buying an additional 50,000 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in JOYY by 27.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 420,500 shares of the information services provider's stock worth $16,025,000 after acquiring an additional 89,500 shares during the period. Hedge funds and other institutional investors own 36.83% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on YY. Bank of America reaffirmed a "neutral" rating and issued a $35.00 price target on shares of JOYY in a research note on Monday, March 25th. StockNews.com upgraded JOYY from a "hold" rating to a "buy" rating in a research report on Friday, May 3rd.
Read Our Latest Report on YY
JOYY Price Performance
Shares of YY traded up $0.81 on Thursday, reaching $33.98. 318,462 shares of the stock traded hands, compared to its average volume of 629,465. JOYY Inc. has a 12 month low of $24.12 and a 12 month high of $43.20. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 6.67 and a beta of 0.35. The stock's 50-day moving average price is $32.42 and its 200-day moving average price is $34.91.
JOYY (NASDAQ:YY - Get Free Report) last posted its earnings results on Monday, March 18th. The information services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.64 by $0.13. The business had revenue of $569.84 million during the quarter, compared to the consensus estimate of $572.51 million. JOYY had a return on equity of 5.13% and a net margin of 13.31%. During the same quarter last year, the company earned $0.49 EPS. As a group, equities research analysts forecast that JOYY Inc. will post 3.57 earnings per share for the current fiscal year.
About JOYY
(
Free Report)
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.
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