Mirae Asset Global Investments Co. Ltd. Boosts Position in JOYY Inc. (NASDAQ:YY)

Mirae Asset Global Investments Co. Ltd. increased its holdings in JOYY Inc. (NASDAQ:YY) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,001 shares of the information services provider’s stock after acquiring an additional 1,131 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.05% of JOYY worth $1,231,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in YY. DekaBank Deutsche Girozentrale lifted its position in shares of JOYY by 6.9% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 5,057 shares of the information services provider’s stock worth $196,000 after purchasing an additional 325 shares during the period. Asset Management One Co. Ltd. lifted its holdings in 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 worth $259,000 after buying an additional 402 shares during the period. Signaturefd LLC boosted its position in JOYY by 14.7% during the 3rd quarter. Signaturefd LLC now owns 4,020 shares of the information services provider’s stock valued at $153,000 after acquiring an additional 514 shares in the last quarter. CWM LLC grew its holdings in shares of JOYY by 168.0% during the 3rd quarter. CWM LLC now owns 930 shares of the information services provider’s stock worth $35,000 after acquiring an additional 583 shares during the period. Finally, Blue Trust Inc. raised its position in shares of JOYY by 221.8% in the 4th quarter. Blue Trust Inc. now owns 943 shares of the information services provider’s stock worth $36,000 after acquiring an additional 650 shares in the last quarter. Institutional investors own 36.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on YY. StockNews.com lowered JOYY from a “buy” rating to a “hold” rating in a research report on Monday, March 18th. Benchmark reaffirmed a “hold” rating on shares of JOYY in a research report on Tuesday, January 2nd. Finally, Bank of America reiterated a “neutral” rating and issued a $35.00 price target on shares of JOYY in a research note on Monday, March 25th.

JOYY Stock Up 1.8 %

YY stock opened at $32.80 on Tuesday. The business has a 50 day moving average of $32.24 and a 200 day moving average of $35.47. JOYY Inc. has a twelve month low of $24.12 and a twelve month high of $43.20. The firm has a market cap of $2.03 billion, a PE ratio of 6.60 and a beta of 0.38.

JOYY (NASDAQ:YY) last issued its quarterly earnings results on Monday, March 18th. The information services provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.13. JOYY had a return on equity of 5.13% and a net margin of 13.31%. The firm had revenue of $569.84 million during the quarter, compared to the consensus estimate of $572.51 million. During the same period last year, the company earned $0.49 earnings per share. On average, research analysts expect that JOYY Inc. will post 3.57 earnings per share for the current fiscal year.

JOYY Company Profile

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.