JOYY Inc. (NASDAQ:YY) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in JOYY Inc. (NASDAQ:YY) by 35.8% in the third quarter, Holdings Channel reports. The fund owned 30,436 shares of the information services provider’s stock after buying an additional 8,019 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in JOYY were worth $1,103,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd lifted its holdings in JOYY by 22.3% in the second quarter. Point72 Hong Kong Ltd now owns 3,022,665 shares of the information services provider’s stock valued at $90,952,000 after acquiring an additional 552,082 shares during the last quarter. Jupiter Asset Management Ltd. increased 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 acquiring an additional 374,800 shares during the last quarter. LSV Asset Management raised its position in JOYY by 780.9% in the second quarter. LSV Asset Management now owns 232,552 shares of the information services provider’s stock valued at $6,997,000 after purchasing an additional 206,152 shares during the period. Cape Ann Asset Management Ltd lifted its stake in shares of JOYY by 47.8% in the 3rd quarter. Cape Ann Asset Management Ltd now owns 476,900 shares of the information services provider’s stock valued at $17,283,000 after purchasing an additional 154,200 shares during the last quarter. Finally, Krane Funds Advisors LLC lifted its stake in shares of JOYY by 10.5% in the 2nd quarter. Krane Funds Advisors LLC now owns 1,414,457 shares of the information services provider’s stock valued at $42,561,000 after purchasing an additional 134,394 shares during the last quarter. 36.83% of the stock is currently owned by hedge funds and other institutional investors.

JOYY Price Performance

Shares of JOYY stock opened at $37.05 on Thursday. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 11.19 and a beta of 0.27. The business has a 50-day moving average of $36.27 and a 200 day moving average of $34.36. JOYY Inc. has a 12 month low of $27.88 and a 12 month high of $42.76.

Analyst Upgrades and Downgrades

YY has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on JOYY from $30.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Benchmark reiterated a “hold” rating on shares of JOYY in a research report on Thursday, August 29th.

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.