JOYY (NASDAQ:YY) Now Covered by StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of JOYY (NASDAQ:YY) in a report issued on Wednesday. The firm set a “hold” rating on the information services provider’s stock.

Separately, Benchmark raised JOYY from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th.

JOYY Trading Down 0.7 %

Shares of NASDAQ YY opened at $38.85 on Wednesday. The firm has a market cap of $2.09 billion, a P/E ratio of 11.74 and a beta of 0.21. The business’s 50 day moving average is $45.63 and its 200-day moving average is $40.60. JOYY has a 1-year low of $27.88 and a 1-year high of $55.31.

Hedge Funds Weigh In On JOYY

Several hedge funds and other institutional investors have recently added to or reduced their stakes in YY. Wellington Management Group LLP increased its holdings in JOYY by 500.5% in the 4th quarter. Wellington Management Group LLP now owns 104,731 shares of the information services provider’s stock valued at $4,383,000 after buying an additional 87,290 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of JOYY during the 4th quarter worth approximately $1,980,000. Public Employees Retirement System of Ohio increased its stake in JOYY by 3.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 125,487 shares of the information services provider’s stock valued at $5,252,000 after acquiring an additional 4,542 shares during the last quarter. Vise Technologies Inc. acquired a new position in JOYY during the fourth quarter valued at approximately $284,000. Finally, Tiger Pacific Capital LP lifted its stake in JOYY by 23.1% during the fourth quarter. Tiger Pacific Capital LP now owns 680,676 shares of the information services provider’s stock worth $28,486,000 after purchasing an additional 127,829 shares during the last quarter. 36.83% of the stock is owned by institutional investors and hedge funds.

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.