StockNews.com Begins Coverage on JOYY (NASDAQ:YY)

Stock analysts at StockNews.com began coverage on shares of JOYY (NASDAQ:YY) in a research note issued on Thursday. The brokerage set a “hold” rating on the information services provider’s stock.

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

JOYY Trading Up 3.5 %

Shares of NASDAQ:YY opened at $41.71 on Thursday. The stock has a market capitalization of $2.25 billion, a P/E ratio of 12.60 and a beta of 0.21. The stock’s 50-day moving average price is $44.85 and its 200-day moving average price is $40.66. JOYY has a 12-month low of $27.88 and a 12-month high of $55.31.

Institutional Trading of JOYY

Several large investors have recently modified their holdings of YY. Barclays PLC increased its position in JOYY by 1.3% during the 3rd quarter. Barclays PLC now owns 20,543 shares of the information services provider’s stock valued at $744,000 after purchasing an additional 270 shares during the period. Global Retirement Partners LLC increased its position in shares of JOYY by 71.5% during the fourth quarter. Global Retirement Partners LLC now owns 1,072 shares of the information services provider’s stock valued at $45,000 after buying an additional 447 shares during the period. Rhumbline Advisers raised its stake in JOYY by 63.0% in the fourth quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider’s stock worth $55,000 after buying an additional 510 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in JOYY in the fourth quarter worth about $25,000. Finally, Geode Capital Management LLC boosted its position in JOYY by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 72,152 shares of the information services provider’s stock valued at $2,615,000 after acquiring an additional 877 shares in the last quarter. 36.83% of the stock is owned by institutional investors.

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.