Quadrature Capital Ltd Acquires 26,352 Shares of JOYY Inc. (NASDAQ:YY)

Quadrature Capital Ltd grew its holdings in shares of JOYY Inc. (NASDAQ:YYFree Report) by 119.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,341 shares of the information services provider’s stock after purchasing an additional 26,352 shares during the quarter. Quadrature Capital Ltd owned approximately 0.08% of JOYY worth $1,919,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in YY. Quadrant Capital Group LLC grew its holdings in JOYY by 8.8% during the fourth quarter. Quadrant Capital Group LLC now owns 4,322 shares of the information services provider’s stock valued at $172,000 after purchasing an additional 349 shares during the period. Mackenzie Financial Corp purchased a new stake in JOYY in the 4th quarter worth about $4,466,000. Hsbc Holdings PLC raised its stake in JOYY by 150.2% in the 4th quarter. Hsbc Holdings PLC now owns 124,682 shares of the information services provider’s stock valued at $4,950,000 after acquiring an additional 74,840 shares during the period. E Fund Management Co. Ltd. raised its stake in JOYY by 222.1% in the 4th quarter. E Fund Management Co. Ltd. now owns 127,843 shares of the information services provider’s stock valued at $5,075,000 after acquiring an additional 88,157 shares during the period. Finally, Penserra Capital Management LLC purchased a new stake in JOYY during the third quarter valued at about $406,000. 36.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

YY has been the subject of several recent research reports. StockNews.com cut JOYY from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th. Bank of America reaffirmed a “neutral” rating and set a $35.00 target price on shares of JOYY in a report on Monday, March 25th.

Get Our Latest Stock Analysis on YY

JOYY Price Performance

YY opened at $28.22 on Tuesday. JOYY Inc. has a one year low of $27.88 and a one year high of $43.20. The firm has a market capitalization of $1.72 billion, a P/E ratio of 5.31 and a beta of 0.25. The company has a fifty day moving average price of $32.12 and a 200-day moving average price of $33.06.

JOYY (NASDAQ:YYGet Free Report) last posted its earnings results on Tuesday, May 28th. The information services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.75 by $0.19. The business had revenue of $564.56 million during the quarter, compared to analysts’ expectations of $553.36 million. JOYY had a return on equity of 5.47% and a net margin of 14.19%. During the same period in the previous year, the business earned $0.57 earnings per share. On average, analysts expect that JOYY Inc. will post 3.51 earnings per share for the current year.

JOYY Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for JOYY (NASDAQ:YY)

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