Northwestern Mutual Wealth Management Co. Has $79,000 Holdings in JOYY Inc. (NASDAQ:YY)

Northwestern Mutual Wealth Management Co. boosted its position in shares of JOYY Inc. (NASDAQ:YY) by 12.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,634 shares of the information services provider’s stock after buying an additional 300 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in JOYY were worth $79,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC boosted its holdings in shares of JOYY by 2.2% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 83,464 shares of the information services provider’s stock valued at $2,511,000 after purchasing an additional 1,810 shares in the last quarter. AQR Capital Management LLC acquired a new stake in JOYY in the second quarter valued at about $1,660,000. AXA S.A. grew its position in JOYY by 29.3% in the second quarter. AXA S.A. now owns 11,863 shares of the information services provider’s stock valued at $357,000 after acquiring an additional 2,690 shares during the last quarter. Caxton Associates LP raised its stake in JOYY by 39.7% during the second quarter. Caxton Associates LP now owns 82,551 shares of the information services provider’s stock worth $2,484,000 after acquiring an additional 23,440 shares in the last quarter. Finally, Point72 Hong Kong Ltd lifted its holdings in shares of JOYY by 22.3% in the second quarter. Point72 Hong Kong Ltd now owns 3,022,665 shares of the information services provider’s stock worth $90,952,000 after acquiring an additional 552,082 shares during the last quarter. 36.83% of the stock is currently owned by institutional investors and hedge funds.

JOYY Price Performance

JOYY stock opened at $36.53 on Friday. The business has a 50 day moving average of $35.05 and a 200-day moving average of $33.19. JOYY Inc. has a 1 year low of $27.88 and a 1 year high of $43.20. The company has a market capitalization of $2.09 billion, a P/E ratio of 8.87 and a beta of 0.24.

JOYY (NASDAQ:YY) last announced its quarterly earnings results on Tuesday, August 27th. The information services provider reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.27. The firm had revenue of $565.13 million during the quarter, compared to analysts’ expectations of $556.82 million. JOYY had a net margin of 9.53% and a return on equity of 4.98%. Equities analysts anticipate that JOYY Inc. will post 3.4 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on YY. JPMorgan Chase & Co. lifted 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 note on Thursday, August 29th.

JOYY 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.