Point72 Asia Singapore Pte. Ltd. Has $398,000 Stock Holdings in JOYY Inc. (NASDAQ:YY)

Point72 Asia Singapore Pte. Ltd. lessened its holdings in JOYY Inc. (NASDAQ:YY) by 37.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,211 shares of the information services provider’s stock after selling 7,858 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in JOYY were worth $398,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board grew its stake in JOYY by 1,758.1% during the first quarter. Canada Pension Plan Investment Board now owns 664,326 shares of the information services provider’s stock worth $20,428,000 after buying an additional 628,573 shares during the last quarter. Point72 Hong Kong Ltd grew its stake in JOYY by 22.3% during the second quarter. Point72 Hong Kong Ltd now owns 3,022,665 shares of the information services provider’s stock worth $90,952,000 after buying an additional 552,082 shares during the last quarter. Jupiter Asset Management Ltd. grew its stake in JOYY by 356.3% during the second quarter. Jupiter Asset Management Ltd. now owns 480,000 shares of the information services provider’s stock worth $14,443,000 after buying an additional 374,800 shares during the last quarter. Yunqi Capital Ltd grew its stake in JOYY by 52.8% during the first quarter. Yunqi Capital Ltd now owns 783,202 shares of the information services provider’s stock worth $24,083,000 after buying an additional 270,564 shares during the last quarter. Finally, LSV Asset Management grew its stake in JOYY by 780.9% during the second quarter. LSV Asset Management now owns 232,552 shares of the information services provider’s stock worth $6,997,000 after buying an additional 206,152 shares during the last quarter. Institutional investors and hedge funds own 36.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on YY. JPMorgan Chase & Co. increased their price target on shares of JOYY from $30.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Benchmark reissued a “hold” rating on shares of JOYY in a research note on Thursday, August 29th.

JOYY Price Performance

YY opened at $36.33 on Thursday. JOYY Inc. has a one year low of $27.88 and a one year high of $43.20. The company’s 50 day simple moving average is $34.55 and its 200-day simple moving average is $32.87. The stock has a market capitalization of $2.07 billion, a P/E ratio of 6.84 and a beta of 0.24.

JOYY (NASDAQ:YY) last announced its quarterly earnings data on Tuesday, August 27th. The information services provider reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.27. JOYY had a net margin of 9.53% and a return on equity of 4.98%. The business had revenue of $565.13 million for the quarter, compared to analyst estimates of $556.82 million. As a group, analysts anticipate that JOYY Inc. will post 3.4 EPS for the current year.

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.