JOYY (NASDAQ:YY) Sets New 12-Month High – What’s Next?

Shares of JOYY Inc. (NASDAQ:YY) hit a new 52-week high during trading on Friday . The company traded as high as $45.45 and last traded at $44.57, with a volume of 54480 shares traded. The stock had previously closed at $43.49.

JOYY Trading Up 3.8 %

The stock has a fifty day moving average price of $39.53 and a 200-day moving average price of $36.31. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 13.62 and a beta of 0.27.

JOYY (NASDAQ:YY) last released its quarterly earnings results on Tuesday, November 26th. The information services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.22. JOYY had a return on equity of 4.64% and a net margin of 9.02%. On average, equities analysts expect that JOYY Inc. will post 3.37 EPS for the current year.

Institutional Investors Weigh In On JOYY

Several hedge funds and other institutional investors have recently made changes to their positions in YY. Caprock Group LLC bought a new position in shares of JOYY in the 4th quarter worth $385,000. Blue Trust Inc. boosted its position in shares of JOYY by 25.8% in the 4th quarter. Blue Trust Inc. now owns 5,672 shares of the information services provider’s stock worth $237,000 after purchasing an additional 1,162 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of JOYY by 699.0% in the 4th quarter. SG Americas Securities LLC now owns 39,573 shares of the information services provider’s stock worth $1,656,000 after purchasing an additional 34,620 shares during the last quarter. Retireful LLC bought a new position in shares of JOYY in the 4th quarter worth $241,000. Finally, Ritholtz Wealth Management boosted its position in shares of JOYY by 69.1% in the 4th quarter. Ritholtz Wealth Management now owns 37,026 shares of the information services provider’s stock worth $1,550,000 after purchasing an additional 15,127 shares during the last quarter. 36.83% of the stock is owned by institutional investors and hedge funds.

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.