Wellington Management Group LLP Sells 34,168 Shares of JOYY Inc. (NASDAQ:YY)

Wellington Management Group LLP lowered its stake in shares of JOYY Inc. (NASDAQ:YY) by 36.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 59,898 shares of the information services provider’s stock after selling 34,168 shares during the quarter. Wellington Management Group LLP owned approximately 0.10% of JOYY worth $2,378,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in YY. Goldman Sachs Group Inc. raised its position in shares of JOYY by 4.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,008,508 shares of the information services provider’s stock worth $40,038,000 after acquiring an additional 45,232 shares during the last quarter. Dodge & Cox raised its holdings in JOYY by 28.3% during the 4th quarter. Dodge & Cox now owns 31,710 shares of the information services provider’s stock worth $1,259,000 after purchasing an additional 7,000 shares during the last quarter. BRIGHT VALLEY CAPITAL Ltd acquired a new position in JOYY during the 4th quarter valued at about $622,000. Caxton Associates LP boosted its stake in shares of JOYY by 14.5% in the 4th quarter. Caxton Associates LP now owns 44,421 shares of the information services provider’s stock valued at $1,764,000 after purchasing an additional 5,630 shares during the last quarter. Finally, Quadrature Capital Ltd grew its position in shares of JOYY by 119.8% during the 4th quarter. Quadrature Capital Ltd now owns 48,341 shares of the information services provider’s stock worth $1,919,000 after buying an additional 26,352 shares during the period. Institutional investors and hedge funds own 36.83% of the company’s stock.

JOYY Trading Up 0.3 %

NASDAQ:YY opened at $30.09 on Monday. JOYY Inc. has a 1 year low of $27.88 and a 1 year high of $43.20. The stock has a 50-day moving average price of $31.47 and a two-hundred day moving average price of $32.53. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 5.67 and a beta of 0.25.

JOYY (NASDAQ:YY) last issued its quarterly earnings data on Tuesday, May 28th. The information services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.19. The business had revenue of $564.56 million during the quarter, compared to analyst estimates of $553.36 million. JOYY had a return on equity of 5.47% and a net margin of 14.19%. During the same period in the previous year, the firm earned $0.57 EPS. Sell-side analysts forecast that JOYY Inc. will post 3.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on YY shares. StockNews.com downgraded JOYY from a “buy” rating to a “hold” rating in a report on Saturday, May 11th. Bank of America reaffirmed a “neutral” rating and issued a $35.00 price target on shares of JOYY in a research note on Monday, March 25th.

JOYY Company 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.