Wellington Management Group LLP Has $2.38 Million Stock Holdings in JOYY Inc. (NASDAQ:YY)

Wellington Management Group LLP trimmed its holdings in shares of JOYY Inc. (NASDAQ:YY) by 36.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,898 shares of the information services provider’s stock after selling 34,168 shares during the quarter. Wellington Management Group LLP’s holdings in JOYY were worth $2,378,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in YY. Blue Trust Inc. lifted its stake in shares of JOYY by 221.8% in the fourth quarter. Blue Trust Inc. now owns 943 shares of the information services provider’s stock worth $36,000 after acquiring an additional 650 shares during the period. Quadrant Capital Group LLC lifted its position in shares of JOYY by 8.8% in the 4th quarter. Quadrant Capital Group LLC now owns 4,322 shares of the information services provider’s stock worth $172,000 after purchasing an additional 349 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of JOYY by 6.9% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 5,057 shares of the information services provider’s stock worth $196,000 after purchasing an additional 325 shares during the period. Employees Retirement System of Texas boosted its stake in shares of JOYY by 825.0% in the 3rd quarter. Employees Retirement System of Texas now owns 5,587 shares of the information services provider’s stock valued at $213,000 after purchasing an additional 4,983 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new stake in shares of JOYY during the third quarter worth $406,000. 36.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on YY. Bank of America restated a “neutral” rating and issued a $35.00 target price on shares of JOYY in a report on Monday, March 25th. StockNews.com downgraded JOYY from a “buy” rating to a “hold” rating in a research note on Saturday, May 11th.

JOYY Price Performance

NASDAQ:YY opened at $30.09 on Monday. JOYY Inc. has a one year low of $27.88 and a one year high of $43.20. The company has a market cap of $1.83 billion, a PE ratio of 5.67 and a beta of 0.25. The firm has a 50-day moving average of $31.47 and a 200-day moving average of $32.53.

JOYY (NASDAQ:YY) last issued its quarterly earnings data on Tuesday, May 28th. The information services provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.19. JOYY had a return on equity of 5.47% and a net margin of 14.19%. The firm had revenue of $564.56 million during the quarter, compared to analyst estimates of $553.36 million. During the same period in the previous year, the company posted $0.57 EPS. On average, equities research analysts expect that JOYY Inc. will post 3.51 earnings per share for the current fiscal year.

About JOYY

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.