Jupiter Asset Management Ltd. Has $13.38 Million Stock Position in JOYY Inc. $YY

Jupiter Asset Management Ltd. grew its holdings in shares of JOYY Inc. (NASDAQ:YY) by 0.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 321,900 shares of the information services provider’s stock after purchasing an additional 1,700 shares during the period. Jupiter Asset Management Ltd.’s holdings in JOYY were worth $13,375,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Aberdeen Group plc increased its holdings in JOYY by 2.9% in the second quarter. Aberdeen Group plc now owns 13,535 shares of the information services provider’s stock valued at $562,000 after purchasing an additional 376 shares during the period. Farther Finance Advisors LLC lifted its holdings in JOYY by 5,718.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 640 shares of the information services provider’s stock worth $27,000 after buying an additional 629 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of JOYY by 7.5% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 10,383 shares of the information services provider’s stock valued at $436,000 after buying an additional 727 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of JOYY by 0.9% in the second quarter. Public Employees Retirement System of Ohio now owns 128,826 shares of the information services provider’s stock valued at $5,353,000 after buying an additional 1,115 shares during the period. Finally, Kathmere Capital Management LLC raised its position in shares of JOYY by 25.9% during the second quarter. Kathmere Capital Management LLC now owns 6,524 shares of the information services provider’s stock worth $271,000 after acquiring an additional 1,344 shares during the last quarter. Institutional investors and hedge funds own 36.83% of the company’s stock.

Analysts Set New Price Targets

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

JOYY Stock Performance

Shares of JOYY stock opened at $60.94 on Thursday. The business has a 50-day moving average price of $59.88 and a two-hundred day moving average price of $52.76. JOYY Inc. has a 1-year low of $30.91 and a 1-year high of $55.31. The company has a market cap of $3.28 billion, a P/E ratio of 18.41 and a beta of 0.21.

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.