Vontobel Holding Ltd. Decreases Holdings in JOYY Inc. (NASDAQ:YY)

Vontobel Holding Ltd. decreased its holdings in JOYY Inc. (NASDAQ:YY) by 11.7% in the third quarter, Holdings Channel.com reports. The firm owned 6,333 shares of the information services provider’s stock after selling 840 shares during the period. Vontobel Holding Ltd.’s holdings in JOYY were worth $230,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Atlas Capital Advisors LLC bought a new stake in JOYY in the second quarter valued at approximately $29,000. EverSource Wealth Advisors LLC bought a new stake in JOYY during the 2nd quarter valued at $52,000. Blue Trust Inc. raised its holdings in JOYY by 22,728.6% during the 2nd quarter. Blue Trust Inc. now owns 1,598 shares of the information services provider’s stock valued at $49,000 after buying an additional 1,591 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in JOYY by 12.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,634 shares of the information services provider’s stock valued at $79,000 after buying an additional 300 shares during the period. Finally, Headlands Technologies LLC grew its holdings in JOYY by 967.6% in the 1st quarter. Headlands Technologies LLC now owns 3,918 shares of the information services provider’s stock worth $120,000 after acquiring an additional 3,551 shares during the last quarter. Institutional investors own 36.83% of the company’s stock.

JOYY Trading Down 2.1 %

NASDAQ:YY opened at $33.65 on Thursday. The company has a 50-day moving average price of $35.10 and a 200-day moving average price of $33.34. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 8.17 and a beta of 0.24. JOYY Inc. has a 12 month low of $27.88 and a 12 month high of $43.20.

JOYY (NASDAQ:YY) last issued its quarterly earnings data on Tuesday, August 27th. The information services provider reported $1.08 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $556.82 million. Equities analysts forecast that JOYY Inc. will post 3.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on YY shares. Benchmark reaffirmed a “hold” rating on shares of JOYY in a research note on Thursday, August 29th. JPMorgan Chase & Co. lifted 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.

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.