Amundi Buys 4,747 Shares of JOYY Inc. (NASDAQ:YY)

Amundi grew its stake in JOYY Inc. (NASDAQ:YY) by 24.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,392 shares of the information services provider’s stock after purchasing an additional 4,747 shares during the quarter. Amundi’s holdings in JOYY were worth $940,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Whitefort Capital Management LP boosted its holdings in JOYY by 168.3% during the third quarter. Whitefort Capital Management LP now owns 565,878 shares of the information services provider’s stock worth $20,507,000 after purchasing an additional 354,932 shares during the last quarter. Cape Ann Asset Management Ltd grew its holdings in shares of 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 valued at $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 valued at approximately $4,383,000. E Fund Management Co. Ltd. lifted its holdings in JOYY by 50.5% during the fourth quarter. E Fund Management Co. Ltd. now owns 156,688 shares of the information services provider’s stock worth $6,557,000 after acquiring an additional 52,590 shares during the period. Finally, SG Americas Securities LLC boosted its position in JOYY by 699.0% in the fourth quarter. SG Americas Securities LLC now owns 39,573 shares of the information services provider’s stock worth $1,656,000 after purchasing an additional 34,620 shares during the last quarter. Hedge funds and other institutional investors own 36.83% of the company’s stock.

JOYY Stock Down 1.7 %

Shares of NASDAQ:YY opened at $46.88 on Thursday. The firm has a market capitalization of $2.52 billion, a PE ratio of 14.16 and a beta of 0.21. The company has a 50-day moving average price of $45.92 and a two-hundred day moving average price of $39.94. JOYY Inc. has a twelve month low of $27.88 and a twelve month high of $55.31.

JOYY (NASDAQ:YY) last released its quarterly earnings data on Wednesday, March 19th. The information services provider reported $1.66 EPS for the quarter, topping the consensus estimate of $0.65 by $1.01. JOYY had a net margin of 9.02% and a return on equity of 4.64%. Analysts anticipate that JOYY Inc. will post 3.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

YY has been the subject of several research analyst reports. StockNews.com lowered JOYY from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Benchmark upgraded JOYY from a “hold” rating to a “buy” rating in a research note on Tuesday, February 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.