Polunin Capital Partners Ltd Reduces Stake in JOYY Inc. (NASDAQ:YY)

Polunin Capital Partners Ltd lowered its position in JOYY Inc. (NASDAQ:YY) by 2.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 171,800 shares of the information services provider’s stock after selling 4,400 shares during the quarter. JOYY comprises about 1.3% of Polunin Capital Partners Ltd’s holdings, making the stock its 12th biggest holding. Polunin Capital Partners Ltd’s holdings in JOYY were worth $5,759,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its position in JOYY by 12.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,634 shares of the information services provider’s stock worth $79,000 after acquiring an additional 300 shares during the period. Atlas Capital Advisors LLC acquired a new position in shares of JOYY in the 2nd quarter valued at $29,000. EverSource Wealth Advisors LLC purchased a new position in shares of JOYY during the 2nd quarter worth $52,000. Blue Trust Inc. increased its position in shares of JOYY by 22,728.6% during the 2nd quarter. Blue Trust Inc. now owns 1,598 shares of the information services provider’s stock worth $49,000 after purchasing an additional 1,591 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC raised its holdings in JOYY by 2.2% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 83,464 shares of the information services provider’s stock valued at $2,511,000 after buying an additional 1,810 shares during the period. Institutional investors and hedge funds own 36.83% of the company’s stock.

JOYY Stock Up 1.0 %

NASDAQ:YY traded up $0.33 on Friday, reaching $34.12. 286,576 shares of the company’s stock were exchanged, compared to its average volume of 489,954. The business has a fifty day moving average of $35.06 and a 200-day moving average of $33.34. JOYY Inc. has a 52-week low of $27.88 and a 52-week high of $43.20. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 6.43 and a beta of 0.24.

JOYY (NASDAQ:YY) last announced its earnings results on Tuesday, August 27th. The information services provider reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.27. JOYY had a net margin of 9.53% and a return on equity of 4.98%. The firm had revenue of $565.13 million for the quarter, compared to the consensus estimate of $556.82 million. As a group, equities analysts anticipate that JOYY Inc. will post 3.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on YY shares. JPMorgan Chase & Co. boosted their price target on shares of JOYY from $30.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Benchmark reissued a “hold” rating on shares of JOYY in a research report on Thursday, August 29th.

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.