JOYY Inc. (NASDAQ:YY) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lessened its position in shares of JOYY Inc. (NASDAQ:YY) by 88.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,668 shares of the information services provider’s stock after selling 128,713 shares during the period. Cubist Systematic Strategies LLC’s holdings in JOYY were worth $502,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of JOYY by 12.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,634 shares of the information services provider’s stock worth $79,000 after purchasing an additional 300 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its holdings in shares of JOYY by 2.2% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 83,464 shares of the information services provider’s stock worth $2,511,000 after purchasing an additional 1,810 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of JOYY in the 2nd quarter worth approximately $1,660,000. AXA S.A. lifted its holdings in shares of JOYY by 29.3% in the 2nd quarter. AXA S.A. now owns 11,863 shares of the information services provider’s stock worth $357,000 after purchasing an additional 2,690 shares during the last quarter. Finally, Caxton Associates LP lifted its holdings in shares of JOYY by 39.7% in the 2nd quarter. Caxton Associates LP now owns 82,551 shares of the information services provider’s stock worth $2,484,000 after purchasing an additional 23,440 shares during the last quarter. Institutional investors own 36.83% of the company’s stock.

Analyst Ratings Changes

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

JOYY Price Performance

YY opened at $36.53 on Friday. JOYY Inc. has a 12 month low of $27.88 and a 12 month high of $43.20. The stock has a market cap of $2.17 billion, a P/E ratio of 6.88 and a beta of 0.24. The stock’s 50 day moving average price is $35.12 and its 200 day moving average price is $33.23.

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