Harvest Fund Management Co. Ltd Trims Stock Holdings in JOYY Inc. (NASDAQ:YY)

Harvest Fund Management Co. Ltd trimmed its position in JOYY Inc. (NASDAQ:YY) by 27.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 20,828 shares of the information services provider’s stock after selling 7,870 shares during the period. Harvest Fund Management Co. Ltd’s holdings in JOYY were worth $817,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New York State Common Retirement Fund boosted its holdings in JOYY by 5.1% in the fourth quarter. New York State Common Retirement Fund now owns 113,893 shares of the information services provider’s stock worth $4,522,000 after acquiring an additional 5,550 shares in the last quarter. California Public Employees Retirement System boosted its holdings in JOYY by 2.0% in the fourth quarter. California Public Employees Retirement System now owns 60,051 shares of the information services provider’s stock worth $2,384,000 after acquiring an additional 1,171 shares in the last quarter. Mackenzie Financial Corp bought a new stake in JOYY in the fourth quarter worth $4,466,000. Polunin Capital Partners Ltd bought a new stake in JOYY in the fourth quarter worth $4,399,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in JOYY by 3.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,001 shares of the information services provider’s stock worth $1,231,000 after acquiring an additional 1,131 shares in the last quarter. 36.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on YY. Bank of America reaffirmed a “neutral” rating and set a $35.00 price target on shares of JOYY in a report on Monday, March 25th. Benchmark reaffirmed a “hold” rating on shares of JOYY in a research note on Tuesday, January 2nd. Finally, StockNews.com downgraded JOYY from a “buy” rating to a “hold” rating in a research note on Monday, March 18th.

JOYY Trading Up 0.6 %

YY traded up $0.20 on Tuesday, hitting $33.00. 335,811 shares of the company’s stock traded hands, compared to its average volume of 683,657. JOYY Inc. has a one year low of $24.12 and a one year high of $43.20. The company’s 50 day simple moving average is $32.26 and its 200-day simple moving average is $35.42. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 6.64 and a beta of 0.38.

JOYY (NASDAQ:YY) last released its quarterly earnings data on Monday, March 18th. The information services provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. JOYY had a return on equity of 5.13% and a net margin of 13.31%. The business had revenue of $569.84 million for the quarter, compared to the consensus estimate of $572.51 million. During the same quarter in the previous year, the company posted $0.49 EPS. As a group, equities analysts anticipate that JOYY Inc. will post 3.57 EPS for the current fiscal year.

About JOYY

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. The company operates Bigo Live, a social live streaming platform that allows users to live stream specific moments, such as showcase talents, socialize, and connect with other users worldwide; Likee, a short-form video social platform that focuses on enabling users to create short-form video; Hago, a multiuser social networking platform that provides casual games; imo, an instant messaging application with functions, including video calls and other communication tools, such as group calls, document sharing, etc.; and Shopline, a smart commerce enabler that provides an integrated omnichannel platform for merchants to create and grow brands online and reach customers.