Desjardins Global Asset Management Inc. lowered its stake in JOYY Inc. (NASDAQ:YY – Free Report) by 19.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 20,962 shares of the information services provider’s stock after selling 4,934 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in JOYY were worth $832,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. CWM LLC increased its holdings in JOYY by 168.0% in the third quarter. CWM LLC now owns 930 shares of the information services provider’s stock valued at $35,000 after buying an additional 583 shares during the last quarter. Blue Trust Inc. lifted its stake in JOYY by 221.8% during the fourth quarter. Blue Trust Inc. now owns 943 shares of the information services provider’s stock worth $36,000 after purchasing an additional 650 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in JOYY by 31.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the information services provider’s stock worth $45,000 after purchasing an additional 343 shares during the last quarter. Assetmark Inc. increased its stake in JOYY by 62.2% in the third quarter. Assetmark Inc. now owns 2,226 shares of the information services provider’s stock valued at $85,000 after purchasing an additional 854 shares during the last quarter. Finally, Signaturefd LLC increased its stake in JOYY by 14.7% in the third quarter. Signaturefd LLC now owns 4,020 shares of the information services provider’s stock valued at $153,000 after purchasing an additional 514 shares during the last quarter. Hedge funds and other institutional investors own 36.83% of the company’s stock.
JOYY Price Performance
JOYY stock opened at $32.21 on Thursday. The business has a 50 day simple moving average of $32.29 and a 200-day simple moving average of $35.62. 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 $2.00 billion, a PE ratio of 6.48 and a beta of 0.38.
Analyst Ratings Changes
A number of research analysts recently commented on YY shares. Benchmark reaffirmed a “hold” rating on shares of JOYY in a research report on Tuesday, January 2nd. Bank of America reaffirmed a “neutral” rating and set a $35.00 price objective on shares of JOYY in a report on Monday, March 25th. Finally, StockNews.com downgraded JOYY from a “buy” rating to a “hold” rating in a report on Monday, March 18th.
View Our Latest Analysis on YY
About JOYY
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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