JOYY Inc. (NASDAQ:YY) Holdings Reduced by Capital World Investors

Capital World Investors lowered its position in JOYY Inc. (NASDAQ:YY) by 49.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 592,383 shares of the information services provider’s stock after selling 585,235 shares during the quarter. Capital World Investors’ holdings in JOYY were worth $18,216,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in JOYY by 9.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 56,365 shares of the information services provider’s stock worth $1,796,000 after buying an additional 4,842 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in JOYY during the 1st quarter worth about $3,235,000. Yunqi Capital Ltd lifted its holdings in shares of JOYY by 52.8% in the first quarter. Yunqi Capital Ltd now owns 783,202 shares of the information services provider’s stock valued at $24,083,000 after purchasing an additional 270,564 shares in the last quarter. Headlands Technologies LLC increased its stake in JOYY by 967.6% in the 1st quarter. Headlands Technologies LLC now owns 3,918 shares of the information services provider’s stock valued at $120,000 after buying an additional 3,551 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in JOYY in the 1st quarter worth about $2,511,000. Institutional investors own 36.83% of the company’s stock.

JOYY Stock Down 0.1 %

Shares of YY stock opened at $33.76 on Friday. The company has a market capitalization of $2.00 billion, a P/E ratio of 6.36 and a beta of 0.25. JOYY Inc. has a 12-month low of $27.88 and a 12-month high of $43.20. The firm has a 50-day moving average price of $31.42 and a 200 day moving average price of $32.00.

JOYY (NASDAQ:YY) last announced its earnings results on Tuesday, May 28th. The information services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.19. JOYY had a net margin of 14.19% and a return on equity of 5.47%. The company had revenue of $564.56 million during the quarter, compared to the consensus estimate of $553.36 million. During the same period in the previous year, the firm posted $0.57 earnings per share. As a group, research analysts expect that JOYY Inc. will post 3.51 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com downgraded JOYY from a “buy” rating to a “hold” rating in a report on Saturday, May 11th.

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.