Migdal Insurance & Financial Holdings Ltd. Trims Position in JOYY Inc. (NASDAQ:YY)

Migdal Insurance & Financial Holdings Ltd. lessened its stake in shares of JOYY Inc. (NASDAQ:YY) by 71.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,979 shares of the information services provider’s stock after selling 9,899 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in JOYY were worth $157,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. CWM LLC grew its holdings in shares of JOYY by 168.0% during the third quarter. CWM LLC now owns 930 shares of the information services provider’s stock worth $35,000 after purchasing an additional 583 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of 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 in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of 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 in the last quarter. Assetmark Inc. grew its holdings in shares of JOYY by 62.2% during the third quarter. Assetmark Inc. now owns 2,226 shares of the information services provider’s stock worth $85,000 after purchasing an additional 854 shares in the last quarter. Finally, Ensign Peak Advisors Inc grew its holdings in shares of JOYY by 33.3% during the first quarter. Ensign Peak Advisors Inc now owns 4,600 shares of the information services provider’s stock worth $143,000 after purchasing an additional 1,150 shares in the last quarter. Hedge funds and other institutional investors own 36.83% of the company’s stock.

JOYY Price Performance

NASDAQ:YY opened at $32.66 on Friday. JOYY Inc. has a 1-year low of $24.12 and a 1-year high of $43.20. The business has a 50 day moving average of $32.27 and a 200 day moving average of $35.60. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 6.57 and a beta of 0.38.

JOYY (NASDAQ:YY) last announced its quarterly earnings data 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 quarter in the previous year, the company posted $0.49 earnings per share. As a group, sell-side analysts anticipate that JOYY Inc. will post 3.57 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.