LSV Asset Management Increases Holdings in JOYY Inc. (NASDAQ:YY)

LSV Asset Management lifted its holdings in JOYY Inc. (NASDAQ:YY) by 780.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 232,552 shares of the information services provider’s stock after acquiring an additional 206,152 shares during the period. LSV Asset Management owned 0.39% of JOYY worth $6,997,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC raised its stake in shares of JOYY by 8.8% in the fourth quarter. Quadrant Capital Group LLC now owns 4,322 shares of the information services provider’s stock valued at $172,000 after acquiring an additional 349 shares during the period. Atlas Capital Advisors LLC bought a new position in JOYY during the 2nd quarter valued at about $29,000. Blue Trust Inc. raised its position in JOYY by 22,728.6% in the 2nd quarter. Blue Trust Inc. now owns 1,598 shares of the information services provider’s stock worth $49,000 after purchasing an additional 1,591 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in JOYY by 11.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 22,862 shares of the information services provider’s stock worth $908,000 after purchasing an additional 2,400 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of JOYY by 53.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 7,751 shares of the information services provider’s stock valued at $233,000 after buying an additional 2,694 shares during the period. Hedge funds and other institutional investors own 36.83% of the company’s stock.

JOYY Stock Up 0.3 %

YY opened at $35.58 on Thursday. The stock’s fifty day moving average is $34.14 and its two-hundred day moving average is $32.58. The company has a market capitalization of $2.11 billion, a P/E ratio of 6.70 and a beta of 0.24. JOYY Inc. has a 52 week low of $27.88 and a 52 week high of $43.20.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Benchmark reaffirmed a “hold” rating on shares of JOYY in a research report on Thursday, August 29th. JPMorgan Chase & Co. boosted their target price 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.

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.