SG Americas Securities LLC Takes $179,000 Position in JOYY Inc. (NASDAQ:YY)

SG Americas Securities LLC bought a new position in shares of JOYY Inc. (NASDAQ:YY) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,953 shares of the information services provider’s stock, valued at approximately $179,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its holdings in JOYY by 12.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,634 shares of the information services provider’s stock worth $79,000 after buying an additional 300 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its holdings in shares of JOYY by 2.2% during the second quarter. Susquehanna Fundamental Investments LLC now owns 83,464 shares of the information services provider’s stock worth $2,511,000 after buying an additional 1,810 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of JOYY in the second quarter valued at approximately $1,660,000. AXA S.A. lifted its stake in JOYY by 29.3% during the second quarter. AXA S.A. now owns 11,863 shares of the information services provider’s stock worth $357,000 after purchasing an additional 2,690 shares during the last quarter. Finally, Caxton Associates LP grew its stake in shares of 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 buying an additional 23,440 shares during the last quarter. Institutional investors own 36.83% of the company’s stock.

JOYY Trading Down 2.1 %

Shares of YY stock opened at $33.65 on Thursday. JOYY Inc. has a 12 month low of $27.88 and a 12 month high of $43.20. The firm has a market capitalization of $1.92 billion, a PE ratio of 8.17 and a beta of 0.24. The firm has a fifty day simple moving average of $35.10 and a two-hundred day simple moving average of $33.34.

JOYY (NASDAQ:YY) last released its quarterly earnings results on Tuesday, August 27th. The information services provider reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.27. The business had revenue of $565.13 million for 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%. On average, equities analysts predict that JOYY Inc. will post 3.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.