JOYY Inc. $YY Position Increased by MY.Alpha Management HK Advisors Ltd

MY.Alpha Management HK Advisors Ltd raised its position in JOYY Inc. (NASDAQ:YY) by 176.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 351,957 shares of the information services provider’s stock after purchasing an additional 224,530 shares during the period. JOYY comprises approximately 11.1% of MY.Alpha Management HK Advisors Ltd’s portfolio, making the stock its 3rd biggest holding. MY.Alpha Management HK Advisors Ltd owned 0.65% of JOYY worth $14,624,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in YY. Farther Finance Advisors LLC boosted its position in shares of JOYY by 5,718.2% in 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 in the last quarter. SVB Wealth LLC acquired a new position in JOYY during the first quarter worth about $57,000. Leading Securities Co Ltd acquired a new position in JOYY during the second quarter worth about $71,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of JOYY in the second quarter valued at about $235,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of JOYY in the second quarter valued at about $262,000. Hedge funds and other institutional investors own 36.83% of the company’s stock.

Wall Street Analysts Forecast Growth

YY has been the subject of a number of recent research reports. Citigroup reissued a “buy” rating on shares of JOYY in a research note on Tuesday, September 2nd. Morgan Stanley set a $66.00 price objective on JOYY in a research report on Monday. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $66.00.

JOYY Stock Performance

YY stock opened at $64.57 on Thursday. The company has a 50 day moving average price of $59.58 and a two-hundred day moving average price of $54.10. The stock has a market capitalization of $3.48 billion, a P/E ratio of 19.51 and a beta of 0.21. JOYY Inc. has a one year low of $30.91 and a one year high of $55.31.

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.