Atria Wealth Solutions Inc. Increases Position in JOYY Inc. (NASDAQ:YY)

Atria Wealth Solutions Inc. raised its stake in JOYY Inc. (NASDAQ:YY) by 8.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,500 shares of the information services provider’s stock after buying an additional 1,000 shares during the period. Atria Wealth Solutions Inc.’s holdings in JOYY were worth $523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Loomis Sayles & Co. L P purchased a new stake in shares of JOYY in the third quarter valued at approximately $25,000. Rhumbline Advisers lifted its holdings in shares of JOYY by 63.0% in the 4th quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider’s stock worth $55,000 after buying an additional 510 shares during the period. Aprio Wealth Management LLC purchased a new position in shares of JOYY during the fourth quarter valued at $202,000. Creative Planning purchased a new stake in shares of JOYY in the 3rd quarter worth approximately $209,000. Finally, Blue Trust Inc. lifted its stake in shares of JOYY by 25.8% during the 4th quarter. Blue Trust Inc. now owns 5,672 shares of the information services provider’s stock worth $237,000 after purchasing an additional 1,162 shares during the last quarter. 36.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Benchmark raised shares of JOYY from a “hold” rating to a “buy” rating in a report on Tuesday. StockNews.com upgraded JOYY from a “hold” rating to a “buy” rating in a research note on Wednesday.

JOYY Stock Down 5.9 %

Shares of YY opened at $49.00 on Thursday. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 14.80 and a beta of 0.28. JOYY Inc. has a 52 week low of $27.88 and a 52 week high of $55.31. The stock’s 50-day moving average price is $43.58 and its 200-day moving average price is $38.53.

JOYY (NASDAQ:YY) last posted its earnings results on Tuesday, November 26th. The information services provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.22. JOYY had a return on equity of 4.64% and a net margin of 9.02%. As a group, equities analysts anticipate that JOYY Inc. will post 3.37 EPS for the current fiscal year.

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.