New York State Common Retirement Fund boosted its holdings in shares of JOYY Inc. (NASDAQ:YY – Free Report) by 29.3% in the 3rd quarter, Holdings Channel reports. The fund owned 108,343 shares of the information services provider’s stock after acquiring an additional 24,537 shares during the quarter. New York State Common Retirement Fund’s holdings in JOYY were worth $4,129,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Capital World Investors grew its stake in shares of JOYY by 28.8% in the 1st quarter. Capital World Investors now owns 4,056,481 shares of the information services provider’s stock valued at $148,995,000 after buying an additional 906,900 shares during the period. Bank of America Corp DE grew its position in JOYY by 169.0% in the first quarter. Bank of America Corp DE now owns 1,196,862 shares of the information services provider’s stock worth $37,318,000 after acquiring an additional 751,909 shares during the period. Acadian Asset Management LLC grew its position in JOYY by 55.3% in the second quarter. Acadian Asset Management LLC now owns 1,448,006 shares of the information services provider’s stock worth $44,437,000 after acquiring an additional 515,339 shares during the period. Envestnet Asset Management Inc. purchased a new position in JOYY in the first quarter worth approximately $470,000. Finally, Norges Bank purchased a new position in JOYY in the fourth quarter worth approximately $15,925,000. Hedge funds and other institutional investors own 36.83% of the company’s stock.
JOYY Price Performance
Shares of JOYY stock opened at $33.81 on Tuesday. The business has a 50-day moving average of $34.64 and a 200 day moving average of $36.64. JOYY Inc. has a 12 month low of $24.12 and a 12 month high of $43.20. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of -29.40 and a beta of 0.39.
Analyst Ratings Changes
A number of research firms have recently weighed in on YY. StockNews.com upgraded JOYY from a “hold” rating to a “buy” rating in a report on Wednesday, February 7th. Benchmark reaffirmed a “hold” rating on shares of JOYY in a research note on Tuesday, January 2nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $41.50.
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.
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