JOYY (NASDAQ:YY) Sets New 1-Year High – Here’s What Happened

JOYY Inc. (NASDAQ:YY)’s stock price reached a new 52-week high on Friday . The stock traded as high as $45.45 and last traded at $44.57, with a volume of 54480 shares trading hands. The stock had previously closed at $43.49.

JOYY Stock Performance

The stock’s 50 day simple moving average is $39.87 and its two-hundred day simple moving average is $36.46. The firm has a market capitalization of $2.50 billion, a PE ratio of 14.01 and a beta of 0.27.

JOYY (NASDAQ:YY) last released its earnings results on Tuesday, November 26th. The information services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.22. JOYY had a return on equity of 4.64% and a net margin of 9.02%. Equities research analysts expect that JOYY Inc. will post 3.37 earnings per share for the current fiscal year.

Institutional Trading of JOYY

Several hedge funds and other institutional investors have recently bought and sold shares of YY. Caprock Group LLC purchased a new position in shares of JOYY during the 4th quarter valued at approximately $385,000. Blue Trust Inc. boosted its holdings in shares of JOYY by 25.8% during the fourth quarter. Blue Trust Inc. now owns 5,672 shares of the information services provider’s stock valued at $237,000 after acquiring an additional 1,162 shares during the period. SG Americas Securities LLC boosted its stake in JOYY by 699.0% during the 4th quarter. SG Americas Securities LLC now owns 39,573 shares of the information services provider’s stock valued at $1,656,000 after purchasing an additional 34,620 shares during the period. Retireful LLC bought a new position in JOYY in the 4th quarter worth approximately $241,000. Finally, Ritholtz Wealth Management increased its holdings in shares of JOYY by 69.1% during the fourth quarter. Ritholtz Wealth Management now owns 37,026 shares of the information services provider’s stock valued at $1,550,000 after purchasing an additional 15,127 shares during the period. 36.83% of the stock is owned by hedge funds and other institutional investors.

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.