BRIGHT VALLEY CAPITAL Ltd Grows Stake in JOYY Inc. (NASDAQ:YY)

BRIGHT VALLEY CAPITAL Ltd grew its holdings in shares of JOYY Inc. (NASDAQ:YY) by 249.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 1,312,841 shares of the information services provider’s stock after buying an additional 936,841 shares during the period. JOYY accounts for 18.5% of BRIGHT VALLEY CAPITAL Ltd’s portfolio, making the stock its 2nd largest position. BRIGHT VALLEY CAPITAL Ltd’s holdings in JOYY were worth $55,113,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. LPL Financial LLC grew its stake in JOYY by 18.4% in the fourth quarter. LPL Financial LLC now owns 13,419 shares of the information services provider’s stock worth $562,000 after purchasing an additional 2,088 shares in the last quarter. JPMorgan Chase & Co. grew its stake in JOYY by 56.5% in the fourth quarter. JPMorgan Chase & Co. now owns 121,109 shares of the information services provider’s stock worth $5,068,000 after purchasing an additional 43,731 shares in the last quarter. Franklin Resources Inc. bought a new position in JOYY in the fourth quarter worth approximately $445,000. Legal & General Group Plc grew its stake in JOYY by 4.9% in the fourth quarter. Legal & General Group Plc now owns 97,917 shares of the information services provider’s stock worth $4,098,000 after purchasing an additional 4,609 shares in the last quarter. Finally, Barclays PLC grew its stake in JOYY by 147.1% in the fourth quarter. Barclays PLC now owns 50,771 shares of the information services provider’s stock worth $2,124,000 after purchasing an additional 30,228 shares in the last quarter. Institutional investors own 36.83% of the company’s stock.

JOYY Stock Down 0.0%

JOYY stock opened at $50.44 on Thursday. The business has a fifty day moving average of $51.05 and a two-hundred day moving average of $46.49. The firm has a market cap of $2.71 billion, a P/E ratio of 15.24 and a beta of 0.21. JOYY Inc. has a twelve month low of $30.91 and a twelve month high of $55.31.

Wall Street Analyst Weigh In

Separately, Wall Street Zen initiated coverage on JOYY in a research note on Monday, May 19th. They issued a “hold” rating on the stock.

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.