8,318 Shares in JOYY Inc. (NASDAQ:YY) Bought by E Fund Management Hong Kong Co. Ltd.

E Fund Management Hong Kong Co. Ltd. bought a new position in JOYY Inc. (NASDAQ:YY) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 8,318 shares of the information services provider’s stock, valued at approximately $301,000. JOYY makes up 0.2% of E Fund Management Hong Kong Co. Ltd.’s holdings, making the stock its 24th largest position.

Several other large investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its position in shares of JOYY by 12.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,634 shares of the information services provider’s stock worth $79,000 after buying an additional 300 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of JOYY by 5.7% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,751 shares of the information services provider’s stock worth $291,000 after buying an additional 421 shares during the period. Atlas Capital Advisors LLC purchased a new position in shares of JOYY in the 2nd quarter worth $29,000. EverSource Wealth Advisors LLC purchased a new position in shares of JOYY in the 2nd quarter worth $52,000. Finally, Blue Trust Inc. raised its position in shares of JOYY by 22,728.6% in the 2nd quarter. Blue Trust Inc. now owns 1,598 shares of the information services provider’s stock worth $49,000 after buying an additional 1,591 shares during the period. 36.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on YY. JPMorgan Chase & Co. increased their target price on JOYY from $30.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Benchmark reiterated a “hold” rating on shares of JOYY in a report on Thursday, August 29th.

JOYY Trading Down 2.2 %

Shares of NASDAQ YY opened at $33.82 on Thursday. JOYY Inc. has a 12-month low of $27.88 and a 12-month high of $43.20. The company has a market cap of $2.01 billion, a P/E ratio of 6.37 and a beta of 0.24. The stock has a fifty day moving average price of $35.01 and a 200 day moving average price of $33.34.

JOYY (NASDAQ:YY) last announced its quarterly earnings results on Tuesday, August 27th. The information services provider reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.27. JOYY had a return on equity of 4.98% and a net margin of 9.53%. The firm had revenue of $565.13 million during the quarter, compared to the consensus estimate of $556.82 million. On average, sell-side analysts forecast that JOYY Inc. will post 3.4 EPS for the current fiscal year.

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.