JOYY Inc. $YY Shares Purchased by Aberdeen Group plc

Aberdeen Group plc increased its stake in shares of JOYY Inc. (NASDAQ:YY) by 2.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,535 shares of the information services provider’s stock after purchasing an additional 376 shares during the period. Aberdeen Group plc’s holdings in JOYY were worth $562,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Krane Funds Advisors LLC raised its position in shares of JOYY by 4.0% during the 1st quarter. Krane Funds Advisors LLC now owns 1,559,646 shares of the information services provider’s stock worth $65,474,000 after purchasing an additional 59,565 shares during the last quarter. BRIGHT VALLEY CAPITAL Ltd raised its position in shares of JOYY by 249.2% during the 1st quarter. BRIGHT VALLEY CAPITAL Ltd now owns 1,312,841 shares of the information services provider’s stock worth $55,113,000 after purchasing an additional 936,841 shares during the last quarter. Prudential PLC acquired a new stake in JOYY in the 1st quarter valued at about $44,090,000. Canada Pension Plan Investment Board raised its holdings in JOYY by 23.7% in the 1st quarter. Canada Pension Plan Investment Board now owns 528,273 shares of the information services provider’s stock valued at $22,177,000 after acquiring an additional 101,173 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its holdings in JOYY by 4,414.1% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 435,878 shares of the information services provider’s stock valued at $18,111,000 after acquiring an additional 426,222 shares during the last quarter. Institutional investors and hedge funds own 36.83% of the company’s stock.

JOYY Trading Up 0.2%

YY stock opened at $56.99 on Friday. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 17.22 and a beta of 0.21. JOYY Inc. has a 12 month low of $30.91 and a 12 month high of $55.31. The firm has a 50-day moving average of $57.05 and a two-hundred day moving average of $50.19.

Analyst Upgrades and Downgrades

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