JOYY Target of Unusually Large Options Trading (NASDAQ:YY)

JOYY Inc. (NASDAQ:YY) saw some unusual options trading on Wednesday. Stock traders acquired 2,276 put options on the stock. This is an increase of 1,341% compared to the typical volume of 158 put options.

Institutional Trading of JOYY

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its holdings in JOYY by 12.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,634 shares of the information services provider’s stock worth $79,000 after acquiring an additional 300 shares during the period. Natixis Advisors LLC boosted its position in shares of JOYY by 1.7% during the 3rd quarter. Natixis Advisors LLC now owns 21,208 shares of the information services provider’s stock worth $769,000 after purchasing an additional 352 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of JOYY by 5.7% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,751 shares of the information services provider’s stock worth $291,000 after purchasing an additional 421 shares during the period. Loomis Sayles & Co. L P acquired a new stake in shares of JOYY in the third quarter valued at about $25,000. Finally, Geode Capital Management LLC lifted its stake in shares of JOYY by 1.2% in the third quarter. Geode Capital Management LLC now owns 72,152 shares of the information services provider’s stock valued at $2,615,000 after purchasing an additional 877 shares during the period. Hedge funds and other institutional investors own 36.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on YY shares. Benchmark reissued a “hold” rating on shares of JOYY in a research note on Thursday, August 29th. JPMorgan Chase & Co. boosted their target price on shares of JOYY from $30.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd.

JOYY Stock Down 0.4 %

NASDAQ YY opened at $36.89 on Friday. The firm has a market cap of $1.99 billion, a P/E ratio of 11.15 and a beta of 0.27. JOYY has a 52-week low of $27.88 and a 52-week high of $42.76. The business’s 50-day moving average price is $36.31 and its 200 day moving average price is $34.38.

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. 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.