77,837 Shares in JOYY Inc. $YY Bought by Ariose Capital Management Ltd

Ariose Capital Management Ltd bought a new stake in shares of JOYY Inc. (NASDAQ:YY) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 77,837 shares of the information services provider’s stock, valued at approximately $3,234,000. JOYY comprises about 2.1% of Ariose Capital Management Ltd’s investment portfolio, making the stock its 13th largest holding.

A number of other large investors also recently modified their holdings of the business. BRIGHT VALLEY CAPITAL Ltd grew 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 valued at $55,113,000 after buying an additional 936,841 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in shares of JOYY by 34.1% during the first quarter. Vontobel Holding Ltd. now owns 7,835 shares of the information services provider’s stock valued at $329,000 after purchasing an additional 1,992 shares during the last quarter. QRG Capital Management Inc. raised its position in shares of JOYY by 45.1% during the 1st quarter. QRG Capital Management Inc. now owns 9,585 shares of the information services provider’s stock worth $402,000 after purchasing an additional 2,980 shares during the period. Asset Management One Co. Ltd. bought a new stake in shares of JOYY in the 1st quarter worth approximately $253,000. Finally, Caxton Associates LLP acquired a new position in JOYY during the 1st quarter valued at approximately $2,612,000. 36.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

JOYY Trading Down 1.4%

Shares of NASDAQ YY opened at $58.55 on Friday. The stock has a 50 day simple moving average of $55.16 and a 200-day simple moving average of $48.76. The company has a market cap of $3.15 billion, a PE ratio of 17.69 and a beta of 0.21. JOYY Inc. has a 12-month low of $30.91 and a 12-month high of $55.31.

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. 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.