JOYY (NASDAQ:YY) Hits New 12-Month High – What’s Next?

JOYY Inc. (NASDAQ:YY)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $42.93 and last traded at $42.82, with a volume of 45190 shares. The stock had previously closed at $41.67.

JOYY Trading Up 3.0 %

The company’s 50-day simple moving average is $38.97 and its 200 day simple moving average is $36.06. The stock has a market cap of $2.31 billion, a P/E ratio of 12.97 and a beta of 0.27.

Institutional Investors Weigh In On JOYY

Large investors have recently modified their holdings of the stock. Loomis Sayles & Co. L P bought a new stake in JOYY during the 3rd quarter valued at $25,000. EverSource Wealth Advisors LLC bought a new stake in JOYY during the 2nd quarter valued at $52,000. Northwestern Mutual Wealth Management Co. raised its holdings in JOYY by 12.9% during the 2nd 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. Blue Trust Inc. raised its holdings in JOYY by 182.2% during the 3rd quarter. Blue Trust Inc. now owns 4,510 shares of the information services provider’s stock valued at $163,000 after acquiring an additional 2,912 shares during the period. Finally, Aprio Wealth Management LLC bought a new stake in JOYY during the 4th quarter valued at $202,000. Hedge funds and other institutional investors own 36.83% of the company’s stock.

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.