JOYY Inc. $YY Shares Acquired by Aberdeen Group plc

Aberdeen Group plc lifted its stake in shares of JOYY Inc. (NASDAQ:YY) by 2.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,535 shares of the information services provider’s stock after buying an additional 376 shares during the period. Aberdeen Group plc’s holdings in JOYY were worth $562,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in YY. Prudential PLC acquired a new stake in shares of JOYY during the first quarter worth $44,090,000. BRIGHT VALLEY CAPITAL Ltd lifted its stake in shares of JOYY by 249.2% during the first quarter. BRIGHT VALLEY CAPITAL Ltd now owns 1,312,841 shares of the information services provider’s stock worth $55,113,000 after buying an additional 936,841 shares during the period. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of JOYY by 4,414.1% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 435,878 shares of the information services provider’s stock worth $18,111,000 after buying an additional 426,222 shares during the period. Nuveen LLC acquired a new stake in shares of JOYY during the first quarter worth $16,926,000. Finally, Wealthquest Corp acquired a new stake in shares of JOYY during the first quarter worth $16,137,000. 36.83% of the stock is currently owned by institutional investors and hedge funds.

JOYY Price Performance

Shares of JOYY stock opened at $56.99 on Friday. JOYY Inc. has a 1 year low of $30.91 and a 1 year high of $55.31. The firm has a fifty day moving average price of $57.05 and a 200 day moving average price of $50.19. The stock has a market cap of $3.07 billion, a PE ratio of 17.22 and a beta of 0.21.

Analyst Upgrades and Downgrades

Separately, Citigroup reissued a “buy” rating on shares of JOYY in a report on Tuesday, September 2nd. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, JOYY presently has an average rating of “Buy”.

JOYY Profile

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.