Oaktree Fund Advisors LLC Purchases 8,336 Shares of JOYY Inc. (NASDAQ:YY)

Oaktree Fund Advisors LLC grew its position in JOYY Inc. (NASDAQ:YY) by 12.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 74,329 shares of the information services provider’s stock after purchasing an additional 8,336 shares during the period. JOYY comprises about 2.1% of Oaktree Fund Advisors LLC’s portfolio, making the stock its 14th largest position. Oaktree Fund Advisors LLC owned approximately 0.13% of JOYY worth $2,237,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in YY. Jupiter Asset Management Ltd. acquired a new stake in JOYY during the 1st quarter worth $3,235,000. GSA Capital Partners LLP bought a new position in shares of JOYY during the 1st quarter valued at about $1,162,000. Hsbc Holdings PLC grew its position in shares of JOYY by 150.2% in the 4th quarter. Hsbc Holdings PLC now owns 124,682 shares of the information services provider’s stock valued at $4,950,000 after purchasing an additional 74,840 shares during the period. Krane Funds Advisors LLC increased its stake in JOYY by 10.5% during the 2nd quarter. Krane Funds Advisors LLC now owns 1,414,457 shares of the information services provider’s stock worth $42,561,000 after purchasing an additional 134,394 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in JOYY during the 1st quarter worth approximately $2,511,000. 36.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on YY shares. JPMorgan Chase & Co. upped their price target on shares of JOYY from $30.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Benchmark reaffirmed a “hold” rating on shares of JOYY in a research report on Thursday, August 29th.

JOYY Stock Performance

NASDAQ YY opened at $35.26 on Friday. JOYY Inc. has a 52 week low of $27.88 and a 52 week high of $43.20. The stock’s 50 day moving average price is $34.42 and its two-hundred day moving average price is $32.75. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 6.64 and a beta of 0.24.

JOYY (NASDAQ:YY) last announced its quarterly earnings data on Tuesday, August 27th. The information services provider reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.27. JOYY had a net margin of 9.53% and a return on equity of 4.98%. The business had revenue of $565.13 million for the quarter, compared to analyst estimates of $556.82 million. On average, equities research analysts forecast that JOYY Inc. will post 3.4 EPS for the current year.

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.