JOYY (NASDAQ:YY) Earns Hold Rating from Analysts at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of JOYY (NASDAQ:YY) in a research report issued on Sunday. The brokerage set a “hold” rating on the information services provider’s stock.

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

JOYY Trading Down 1.3%

JOYY stock opened at $42.32 on Friday. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 12.79 and a beta of 0.21. The company’s 50-day moving average price is $42.41 and its two-hundred day moving average price is $41.54. JOYY has a 52 week low of $27.88 and a 52 week high of $55.31.

Hedge Funds Weigh In On JOYY

Institutional investors and hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new position in JOYY during the fourth quarter worth $25,000. Global Retirement Partners LLC increased its holdings in JOYY by 71.5% in the 4th quarter. Global Retirement Partners LLC now owns 1,072 shares of the information services provider’s stock valued at $45,000 after buying an additional 447 shares during the period. Rhumbline Advisers increased its holdings in JOYY by 63.0% in the 4th quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider’s stock valued at $55,000 after buying an additional 510 shares during the period. Raiffeisen Bank International AG bought a new stake in JOYY in the 4th quarter valued at $85,000. Finally, BI Asset Management Fondsmaeglerselskab A S increased its holdings in JOYY by 54.8% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,495 shares of the information services provider’s stock valued at $104,000 after buying an additional 883 shares during the period. 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.