JOYY (NASDAQ:YY) Sets New 12-Month High – Here’s Why

JOYY Inc. (NASDAQ:YY)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $51.77 and last traded at $50.92, with a volume of 26177 shares traded. The stock had previously closed at $49.99.

JOYY Price Performance

The firm has a market capitalization of $2.64 billion, a P/E ratio of 14.79 and a beta of 0.28. The stock has a fifty day simple moving average of $42.87 and a two-hundred day simple moving average of $38.15.

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 analysts’ consensus estimates of $0.79 by $0.22. JOYY had a net margin of 9.02% and a return on equity of 4.64%. As a group, sell-side analysts expect that JOYY Inc. will post 3.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Loomis Sayles & Co. L P bought a new position in JOYY in the third quarter worth about $25,000. SBI Securities Co. Ltd. bought a new stake in JOYY in the fourth quarter worth $25,000. Global Retirement Partners LLC increased its stake in JOYY by 71.5% during the 4th quarter. Global Retirement Partners LLC now owns 1,072 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 447 shares in the last quarter. Rhumbline Advisers raised its holdings in JOYY by 63.0% in the 4th quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider’s stock worth $55,000 after acquiring an additional 510 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new position in shares of JOYY during the fourth quarter valued at $85,000. Institutional investors own 36.83% of the company’s stock.

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.