JOYY (NASDAQ:YY) Hits New 12-Month High – Here’s Why

JOYY Inc. (NASDAQ:YY)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $48.38 and last traded at $47.58, with a volume of 57497 shares traded. The stock had previously closed at $46.59.

JOYY Stock Performance

The company has a market cap of $2.54 billion, a price-to-earnings ratio of 14.24 and a beta of 0.28. The stock’s fifty day moving average is $42.03 and its two-hundred day moving average is $37.63.

JOYY (NASDAQ:YY) last issued its quarterly earnings data on Tuesday, November 26th. The information services provider reported $1.01 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%. On average, equities research analysts expect that JOYY Inc. will post 3.37 EPS for the current year.

Institutional Trading of JOYY

Several institutional investors have recently made changes to their positions in the company. Yunqi Capital Ltd boosted its position in JOYY by 102.3% in the fourth quarter. Yunqi Capital Ltd now owns 1,710,987 shares of the information services provider’s stock worth $71,605,000 after purchasing an additional 865,285 shares during the last quarter. Whitefort Capital Management LP boosted its holdings in shares of JOYY by 168.3% in the 3rd quarter. Whitefort Capital Management LP now owns 565,878 shares of the information services provider’s stock worth $20,507,000 after buying an additional 354,932 shares during the last quarter. AI Squared Management Ltd purchased a new stake in JOYY during the fourth quarter worth about $10,362,000. Krane Funds Advisors LLC raised its position in JOYY by 12.0% in the fourth quarter. Krane Funds Advisors LLC now owns 1,500,081 shares of the information services provider’s stock worth $62,778,000 after acquiring an additional 160,545 shares during the period. Finally, Cape Ann Asset Management Ltd boosted its stake in JOYY by 47.8% in the third quarter. Cape Ann Asset Management Ltd now owns 476,900 shares of the information services provider’s stock valued at $17,283,000 after acquiring an additional 154,200 shares during the last quarter. Institutional investors own 36.83% of the company’s stock.

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.