JOYY (NASDAQ:YY) Rating Lowered to “Hold” at StockNews.com

JOYY (NASDAQ:YY) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Separately, Benchmark upgraded JOYY from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th.

JOYY Stock Down 2.9 %

Shares of NASDAQ YY opened at $48.84 on Thursday. The stock’s 50 day moving average price is $44.62 and its two-hundred day moving average price is $39.14. JOYY has a 52-week low of $27.88 and a 52-week high of $55.31. The stock has a market capitalization of $2.63 billion, a P/E ratio of 14.76 and a beta of 0.28.

Institutional Trading of JOYY

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. OLP CAPITAL MANAGEMENT Ltd bought a new position in JOYY in the 4th quarter worth approximately $57,840,000. Yunqi Capital Ltd grew its holdings in JOYY by 102.3% in the 4th quarter. Yunqi Capital Ltd now owns 1,710,987 shares of the information services provider’s stock worth $71,605,000 after buying an additional 865,285 shares in the last quarter. BNP Paribas Financial Markets bought a new position in JOYY in the 4th quarter worth approximately $15,448,000. Whitefort Capital Management LP grew its holdings in 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 in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in JOYY by 1,793.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 304,355 shares of the information services provider’s stock worth $12,737,000 after buying an additional 288,285 shares in the last quarter. 36.83% of the stock is currently 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.