Sanctuary Advisors LLC Acquires New Holdings in JOYY Inc. (NASDAQ:YY)

Sanctuary Advisors LLC bought a new position in JOYY Inc. (NASDAQ:YY) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,079 shares of the information services provider’s stock, valued at approximately $501,000.

Several other hedge funds have also modified their holdings of YY. Whitefort Capital Management LP grew its stake in JOYY by 168.3% during the 3rd quarter. Whitefort Capital Management LP now owns 565,878 shares of the information services provider’s stock worth $20,507,000 after buying an additional 354,932 shares during the last quarter. Cape Ann Asset Management Ltd boosted its holdings in JOYY by 47.8% in the third quarter. Cape Ann Asset Management Ltd now owns 476,900 shares of the information services provider’s stock worth $17,283,000 after acquiring an additional 154,200 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of JOYY during the third quarter worth about $4,383,000. SG Americas Securities LLC increased its holdings in shares of JOYY by 699.0% during the fourth quarter. SG Americas Securities LLC now owns 39,573 shares of the information services provider’s stock valued at $1,656,000 after acquiring an additional 34,620 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of JOYY by 45.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 99,748 shares of the information services provider’s stock valued at $3,615,000 after purchasing an additional 31,341 shares during the last quarter. 36.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. StockNews.com raised shares of JOYY from a “hold” rating to a “buy” rating in a research report on Wednesday. Benchmark raised JOYY from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th.

JOYY Trading Down 0.8 %

YY opened at $46.79 on Friday. JOYY Inc. has a 12-month low of $27.88 and a 12-month high of $55.31. The firm has a 50 day moving average of $43.91 and a two-hundred day moving average of $38.70. The firm has a market capitalization of $2.52 billion, a PE ratio of 14.14 and a beta of 0.28.

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.