UBS Group AG reduced its stake in shares of JOYY Inc. (NASDAQ:YY – Get Rating) by 66.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,707 shares of the information services provider’s stock after selling 181,349 shares during the period. UBS Group AG owned 0.12% of JOYY worth $2,359,000 as of its most recent SEC filing.
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Other institutional investors and hedge funds have also modified their holdings of the company. Point72 Asset Management L.P. acquired a new stake in shares of JOYY in the 2nd quarter valued at $5,912,000. Wipfli Financial Advisors LLC acquired a new stake in shares of JOYY in the 3rd quarter valued at $71,000. US Bancorp DE lifted its stake in shares of JOYY by 276.9% in the 3rd quarter. US Bancorp DE now owns 8,078 shares of the information services provider’s stock valued at $211,000 after purchasing an additional 5,935 shares during the last quarter. Prudential PLC lifted its stake in shares of JOYY by 45.5% in the 2nd quarter. Prudential PLC now owns 9,690 shares of the information services provider’s stock valued at $290,000 after purchasing an additional 3,030 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of JOYY by 106.5% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 21,136 shares of the information services provider’s stock valued at $631,000 after purchasing an additional 10,900 shares during the last quarter. 42.31% of the stock is currently owned by hedge funds and other institutional investors.
JOYY Stock Performance
NASDAQ YY opened at $31.65 on Tuesday. The stock has a market cap of $2.47 billion, a P/E ratio of 4.55 and a beta of 0.54. The company’s 50-day simple moving average is $35.22 and its 200 day simple moving average is $30.89. JOYY Inc. has a twelve month low of $21.38 and a twelve month high of $47.23. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.07.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. Citigroup cut their target price on shares of JOYY from $46.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, February 13th. TheStreet raised shares of JOYY from a “d+” rating to a “c” rating in a research report on Friday, December 9th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, JOYY has a consensus rating of “Hold” and an average target price of $49.00.
JOYY Company Profile
JOYY, Inc engages in managing a communication social platform, which enables users to join real-time online group activities through voice, text, and video. Its services include music and entertainment, online games, online dating, live game broadcasting, online education, and advertising. It operates through following segments: Live Streaming, Online Games, Membership and Others.
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