Thrivent Financial for Lutherans Sells 22,689 Shares of JOYY Inc. (NASDAQ:YY)

Thrivent Financial for Lutherans lowered its position in shares of JOYY Inc. (NASDAQ:YY) by 18.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 103,436 shares of the information services provider’s stock after selling 22,689 shares during the period. Thrivent Financial for Lutherans’ holdings in JOYY were worth $3,748,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of YY. Natixis Advisors LLC boosted its stake in shares of JOYY by 1.7% in the third quarter. Natixis Advisors LLC now owns 21,208 shares of the information services provider’s stock worth $769,000 after acquiring an additional 352 shares during the period. GSA Capital Partners LLP boosted its stake in JOYY by 25.9% in the 3rd quarter. GSA Capital Partners LLP now owns 11,846 shares of the information services provider’s stock worth $429,000 after purchasing an additional 2,434 shares during the period. E Fund Management Hong Kong Co. Ltd. purchased a new stake in JOYY during the 3rd quarter valued at approximately $301,000. China Universal Asset Management Co. Ltd. purchased a new stake in JOYY during the 3rd quarter valued at approximately $725,000. Finally, DekaBank Deutsche Girozentrale raised its position in shares of JOYY by 5.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,751 shares of the information services provider’s stock valued at $291,000 after buying an additional 421 shares during the last quarter. 36.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

JOYY Stock Performance

NASDAQ YY opened at $34.75 on Tuesday. The stock has a 50 day moving average price of $35.01 and a 200-day moving average price of $33.57. JOYY Inc. has a one year low of $27.88 and a one year high of $41.40. The company has a market capitalization of $1.98 billion, a P/E ratio of 8.43 and a beta of 0.25.

JOYY (NASDAQ:YY) last released its quarterly earnings data on Tuesday, August 27th. The information services provider reported $1.08 EPS for the quarter, beating 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. As a group, equities analysts predict that JOYY Inc. will post 3.4 EPS 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.