California Public Employees Retirement System Boosts Position in JOYY Inc. (NASDAQ:YY)

California Public Employees Retirement System raised its position in JOYY Inc. (NASDAQ:YY) by 2.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 60,051 shares of the information services provider’s stock after purchasing an additional 1,171 shares during the period. California Public Employees Retirement System owned about 0.10% of JOYY worth $2,384,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. lifted its stake in JOYY by 221.8% in the 4th quarter. Blue Trust Inc. now owns 943 shares of the information services provider’s stock valued at $36,000 after buying an additional 650 shares in the last quarter. Assetmark Inc. boosted its stake in shares of JOYY by 62.2% during the third quarter. Assetmark Inc. now owns 2,226 shares of the information services provider’s stock valued at $85,000 after acquiring an additional 854 shares during the last quarter. Signaturefd LLC increased its position in 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 in the last quarter. DekaBank Deutsche Girozentrale raised its stake in JOYY by 115.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 4,732 shares of the information services provider’s stock valued at $179,000 after purchasing an additional 2,534 shares during the last quarter. Finally, Employees Retirement System of Texas lifted its holdings in JOYY by 825.0% in the 3rd quarter. Employees Retirement System of Texas now owns 5,587 shares of the information services provider’s stock valued at $213,000 after purchasing an additional 4,983 shares in the last quarter. Hedge funds and other institutional investors own 36.83% of the company’s stock.

Analysts Set New Price Targets

YY has been the subject of a number of recent research reports. StockNews.com upgraded shares of JOYY from a “hold” rating to a “buy” rating in a report on Friday. Bank of America restated a “neutral” rating and set a $35.00 target price on shares of JOYY in a research report on Monday, March 25th.

JOYY Trading Down 0.1 %

NASDAQ YY opened at $33.77 on Monday. The business’s 50-day moving average price is $32.32 and its 200 day moving average price is $35.00. JOYY Inc. has a twelve month low of $24.12 and a twelve month high of $43.20. The company has a market capitalization of $2.09 billion, a PE ratio of 6.79 and a beta of 0.35.

JOYY (NASDAQ:YY) last announced its quarterly earnings data on Monday, March 18th. The information services provider reported $0.77 earnings per share for the quarter, topping 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 business had revenue of $569.84 million for the quarter, compared to analyst estimates of $572.51 million. During the same period in the prior year, the firm posted $0.49 EPS. Equities analysts predict that JOYY Inc. will post 3.57 EPS for the current year.

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.