Vontobel Holding Ltd. Sells 840 Shares of JOYY Inc. (NASDAQ:YY)

Vontobel Holding Ltd. lessened its holdings in shares of JOYY Inc. (NASDAQ:YY) by 11.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,333 shares of the information services provider’s stock after selling 840 shares during the quarter. Vontobel Holding Ltd.’s holdings in JOYY were worth $230,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of YY. Creative Planning bought a new stake in shares of JOYY during the 3rd quarter valued at $209,000. Ritholtz Wealth Management purchased a new position in JOYY during the 3rd quarter valued at about $794,000. Handelsbanken Fonder AB bought a new stake in shares of JOYY during the third quarter valued at about $272,000. SG Americas Securities LLC purchased a new stake in shares of JOYY in the third quarter worth about $179,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of JOYY by 12.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,634 shares of the information services provider’s stock valued at $79,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 36.83% of the company’s stock.

JOYY Price Performance

Shares of YY opened at $33.65 on Thursday. 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 $1.92 billion, a P/E ratio of 8.17 and a beta of 0.24. The firm’s 50 day simple moving average is $35.10 and its 200 day simple moving average is $33.34.

JOYY (NASDAQ:YY) last issued its quarterly earnings results 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 firm had revenue of $565.13 million for the quarter, compared to analyst estimates of $556.82 million. On average, equities analysts anticipate that JOYY Inc. will post 3.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.