JOYY (NASDAQ:YY) Reaches New 52-Week High – What’s Next?

JOYY Inc. (NASDAQ:YY)’s share price hit a new 52-week high on Friday . The company traded as high as $47.20 and last traded at $46.69, with a volume of 43750 shares. The stock had previously closed at $45.45.

JOYY Stock Up 0.9 %

The company’s 50-day simple moving average is $41.40 and its 200-day simple moving average is $37.11. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 13.84 and a beta of 0.28.

JOYY (NASDAQ:YY) last posted its quarterly earnings data on Tuesday, November 26th. The information services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.22. JOYY had a return on equity of 4.64% and a net margin of 9.02%. As a group, analysts expect that JOYY Inc. will post 3.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC bought a new position in JOYY during the second quarter valued at approximately $1,660,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of 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 buying an additional 300 shares in the last quarter. SG Americas Securities LLC bought a new position in JOYY during the 3rd quarter valued at approximately $179,000. Handelsbanken Fonder AB purchased a new position in shares of JOYY in the 3rd quarter worth about $272,000. Finally, Ritholtz Wealth Management bought a new position in shares of JOYY in the third quarter worth approximately $794,000. 36.83% of the stock is currently owned by institutional investors and hedge funds.

About JOYY

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.