Principal Financial Group Inc. Increases Stock Holdings in JOYY Inc. (NASDAQ:YY)

Principal Financial Group Inc. raised its stake in JOYY Inc. (NASDAQ:YYFree Report) by 5.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,652 shares of the information services provider’s stock after acquiring an additional 963 shares during the quarter. Principal Financial Group Inc.’s holdings in JOYY were worth $711,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in shares of JOYY by 31.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 343 shares during the period. Asset Management One Co. Ltd. grew its position in shares of JOYY by 6.3% in the third quarter. Asset Management One Co. Ltd. now owns 6,786 shares of the information services provider’s stock valued at $259,000 after purchasing an additional 402 shares during the period. Squarepoint Ops LLC grew its position in shares of JOYY by 5.9% in the first quarter. Squarepoint Ops LLC now owns 7,757 shares of the information services provider’s stock valued at $242,000 after purchasing an additional 431 shares during the period. CWM LLC grew its position in JOYY by 168.0% during the third quarter. CWM LLC now owns 930 shares of the information services provider’s stock valued at $35,000 after acquiring an additional 583 shares during the period. Finally, Assetmark Inc. grew its position in JOYY by 62.2% during the third quarter. Assetmark Inc. now owns 2,226 shares of the information services provider’s stock valued at $85,000 after acquiring an additional 854 shares during the period. 36.83% of the stock is owned by institutional investors and hedge funds.

JOYY Price Performance

Shares of YY opened at $33.02 on Friday. The stock’s 50-day moving average is $34.71 and its two-hundred day moving average is $36.58. The stock has a market cap of $2.05 billion, a PE ratio of -28.71 and a beta of 0.39. JOYY Inc. has a 12 month low of $24.12 and a 12 month high of $43.20.

JOYY (NASDAQ:YYGet Free Report) last issued its quarterly earnings data on Wednesday, November 29th. The information services provider reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.31. JOYY had a positive return on equity of 4.84% and a negative net margin of 5.28%. The company had revenue of $567.07 million for the quarter, compared to analysts’ expectations of $563.68 million. On average, research analysts anticipate that JOYY Inc. will post 3.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on YY shares. Benchmark reissued a “hold” rating on shares of JOYY in a research report on Tuesday, January 2nd. StockNews.com raised JOYY from a “hold” rating to a “buy” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $41.50.

Get Our Latest Research Report on YY

About JOYY

(Free Report)

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. The company operates Bigo Live, a social live streaming platform that allows users to live stream specific moments, such as showcase talents, socialize, and connect with other users worldwide; Likee, a short-form video social platform that focuses on enabling users to create short-form video; Hago, a multiuser social networking platform that provides casual games; imo, an instant messaging application with functions, including video calls and other communication tools, such as group calls, document sharing, etc.; and Shopline, a smart commerce enabler that provides an integrated omnichannel platform for merchants to create and grow brands online and reach customers.

Further Reading

Institutional Ownership by Quarter for JOYY (NASDAQ:YY)

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