JOYY (NASDAQ:YY) Trading Down 4.7% – Should You Sell?

JOYY Inc. (NASDAQ:YY) traded down 4.7% during trading on Thursday . The company traded as low as $39.79 and last traded at $39.88. 280,199 shares were traded during mid-day trading, a decline of 44% from the average session volume of 499,252 shares. The stock had previously closed at $41.85.

JOYY Stock Performance

The business has a 50-day simple moving average of $37.61 and a two-hundred day simple moving average of $35.21. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 12.01 and a beta of 0.27.

Hedge Funds Weigh In On JOYY

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC increased its position in shares of JOYY by 1.3% in the third quarter. Barclays PLC now owns 20,543 shares of the information services provider’s stock valued at $744,000 after buying an additional 270 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in JOYY by 12.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,634 shares of the information services provider’s stock valued at $79,000 after acquiring an additional 300 shares in the last quarter. Natixis Advisors LLC raised its position in JOYY by 1.7% during the third quarter. Natixis Advisors LLC now owns 21,208 shares of the information services provider’s stock worth $769,000 after acquiring an additional 352 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in JOYY by 5.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,751 shares of the information services provider’s stock worth $291,000 after acquiring an additional 421 shares during the last quarter. Finally, Loomis Sayles & Co. L P purchased a new stake in shares of JOYY in the third quarter valued at about $25,000. 36.83% of the stock is owned by institutional investors and hedge funds.

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.