New York State Common Retirement Fund Decreases Stake in JOYY Inc. (NASDAQ:YY)

New York State Common Retirement Fund decreased its holdings in shares of JOYY Inc. (NASDAQ:YY) by 10.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,255 shares of the information services provider’s stock after selling 14,000 shares during the quarter. New York State Common Retirement Fund owned about 0.23% of JOYY worth $5,158,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Creative Planning purchased a new position in JOYY during the third quarter worth approximately $209,000. DekaBank Deutsche Girozentrale raised its holdings 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 acquiring an additional 421 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of JOYY during the 3rd quarter worth $301,000. GSA Capital Partners LLP grew its holdings in shares of JOYY by 25.9% in the third quarter. GSA Capital Partners LLP now owns 11,846 shares of the information services provider’s stock valued at $429,000 after purchasing an additional 2,434 shares during the period. Finally, Natixis Advisors LLC grew its holdings in shares of JOYY by 1.7% in the third quarter. Natixis Advisors LLC now owns 21,208 shares of the information services provider’s stock valued at $769,000 after purchasing an additional 352 shares during the period. 36.83% of the stock is currently owned by institutional investors and hedge funds.

JOYY Stock Performance

JOYY stock opened at $47.15 on Friday. The company has a market capitalization of $2.54 billion, a PE ratio of 14.24 and a beta of 0.28. JOYY Inc. has a fifty-two week low of $27.88 and a fifty-two week high of $55.31. The firm has a 50 day moving average price of $43.79 and a 200 day moving average price of $38.59.

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

Analysts Set New Price Targets

Several research firms have weighed in on YY. Benchmark upgraded 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 report on Wednesday.

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.