JOYY Inc. $YY Shares Acquired by LSV Asset Management

LSV Asset Management boosted its stake in shares of JOYY Inc. (NASDAQ:YY) by 1.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 349,299 shares of the information services provider’s stock after purchasing an additional 5,400 shares during the quarter. LSV Asset Management owned approximately 0.65% of JOYY worth $14,513,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in YY. Prudential PLC acquired a new stake in JOYY in the first quarter worth $44,090,000. BRIGHT VALLEY CAPITAL Ltd grew its position in shares of JOYY by 249.2% during the first quarter. BRIGHT VALLEY CAPITAL Ltd now owns 1,312,841 shares of the information services provider’s stock worth $55,113,000 after acquiring an additional 936,841 shares during the last quarter. Nuveen LLC acquired a new stake in shares of JOYY in the 1st quarter worth about $16,926,000. Wealthquest Corp bought a new stake in JOYY in the 1st quarter valued at about $16,137,000. Finally, Nan Fung Trinity HK Ltd. bought a new stake in JOYY in the 2nd quarter valued at about $11,538,000. 36.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

JOYY Stock Performance

Shares of YY opened at $59.35 on Thursday. JOYY Inc. has a one year low of $30.91 and a one year high of $55.31. The stock’s fifty day moving average is $59.54 and its 200-day moving average is $53.39. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 17.93 and a beta of 0.21.

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.