Desjardins Global Asset Management Inc. Sells 4,934 Shares of JOYY Inc. (NASDAQ:YY)

Desjardins Global Asset Management Inc. trimmed its position in shares of JOYY Inc. (NASDAQ:YY) by 19.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,962 shares of the information services provider’s stock after selling 4,934 shares during the period. Desjardins Global Asset Management Inc.’s holdings in JOYY were worth $832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of JOYY by 135.9% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 32,517 shares of the information services provider’s stock valued at $1,264,000 after purchasing an additional 18,731 shares during the last quarter. American Century Companies Inc. boosted its holdings in JOYY by 11.4% during the 1st quarter. American Century Companies Inc. now owns 10,078 shares of the information services provider’s stock valued at $370,000 after acquiring an additional 1,031 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in JOYY by 34.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,302 shares of the information services provider’s stock valued at $452,000 after acquiring an additional 3,164 shares during the last quarter. Great West Life Assurance Co. Can grew its position in JOYY by 10.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 54,734 shares of the information services provider’s stock valued at $2,087,000 after acquiring an additional 5,100 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in JOYY by 4.2% in the first quarter. Vanguard Group Inc. now owns 2,022,640 shares of the information services provider’s stock worth $74,292,000 after purchasing an additional 81,581 shares during the period. Hedge funds and other institutional investors own 36.83% of the company’s stock.

JOYY Stock Performance

NASDAQ YY opened at $32.21 on Thursday. JOYY Inc. has a one year low of $24.12 and a one year high of $43.20. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 6.48 and a beta of 0.38. The company’s 50-day simple moving average is $32.29 and its two-hundred day simple moving average is $35.62.

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

Wall Street Analyst Weigh In

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

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.