LMR Partners LLP Has $3.37 Million Holdings in JOYY Inc. (NASDAQ:YY)

LMR Partners LLP cut its holdings in shares of JOYY Inc. (NASDAQ:YY) by 9.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 92,994 shares of the information services provider’s stock after selling 9,704 shares during the quarter. LMR Partners LLP owned about 0.16% of JOYY worth $3,370,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Atlas Capital Advisors LLC acquired a new position in shares of JOYY in the second quarter valued at $29,000. EverSource Wealth Advisors LLC acquired a new position in shares of JOYY in the second quarter valued at $52,000. Blue Trust Inc. raised its stake in shares of JOYY by 22,728.6% in the second quarter. Blue Trust Inc. now owns 1,598 shares of the information services provider’s stock valued at $49,000 after purchasing an additional 1,591 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of JOYY by 12.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,634 shares of the information services provider’s stock valued at $79,000 after purchasing an additional 300 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of JOYY in the third quarter valued at $179,000. 36.83% of the stock is currently owned by institutional investors and hedge funds.

JOYY Price Performance

Shares of NASDAQ:YY opened at $36.18 on Tuesday. The business’s fifty day moving average price is $35.04 and its two-hundred day moving average price is $33.49. JOYY Inc. has a fifty-two week low of $27.88 and a fifty-two week high of $42.65. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 8.78 and a beta of 0.25.

JOYY (NASDAQ:YY) last announced its earnings results on Tuesday, August 27th. The information services provider reported $1.08 EPS for the quarter, topping the consensus estimate of $0.81 by $0.27. The company had revenue of $565.13 million for the quarter, compared to analysts’ expectations of $556.82 million. JOYY had a return on equity of 4.98% and a net margin of 9.53%. Research analysts expect that JOYY Inc. will post 3.4 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Benchmark reiterated a “hold” rating on shares of JOYY in a research report on Thursday, August 29th. JPMorgan Chase & Co. upped their price target on JOYY from $30.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd.

JOYY 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.