Goldman Sachs Group Inc. Has $40.04 Million Position in JOYY Inc. (NASDAQ:YY)

Goldman Sachs Group Inc. increased its stake in shares of JOYY Inc. (NASDAQ:YY) by 4.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,008,508 shares of the information services provider’s stock after purchasing an additional 45,232 shares during the quarter. Goldman Sachs Group Inc. owned about 1.63% of JOYY worth $40,038,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. grew its stake in shares of JOYY by 221.8% during the fourth quarter. Blue Trust Inc. now owns 943 shares of the information services provider’s stock valued at $36,000 after purchasing an additional 650 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in 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 last quarter. DekaBank Deutsche Girozentrale boosted its stake in JOYY by 115.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 4,732 shares of the information services provider’s stock valued at $179,000 after acquiring an additional 2,534 shares during the last quarter. Employees Retirement System of Texas boosted its stake in JOYY by 825.0% in the third quarter. Employees Retirement System of Texas now owns 5,587 shares of the information services provider’s stock valued at $213,000 after acquiring an additional 4,983 shares during the last quarter. Finally, Penserra Capital Management LLC bought a new position in JOYY in the third quarter valued at approximately $406,000. 36.83% of the stock is owned by institutional investors.

JOYY Stock Up 0.8 %

Shares of NASDAQ YY opened at $28.95 on Friday. The company’s fifty day moving average is $31.79 and its 200-day moving average is $32.94. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 5.45 and a beta of 0.25. JOYY Inc. has a twelve month low of $27.88 and a twelve month high of $43.20.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Bank of America reaffirmed a “neutral” rating and issued a $35.00 price objective on shares of JOYY in a research note on Monday, March 25th. StockNews.com cut shares of JOYY from a “buy” rating to a “hold” rating in a research note on Saturday, May 11th.

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.