Renaissance Group LLC Raises Position in JOYY Inc. (NASDAQ:YY)

Renaissance Group LLC increased its holdings in JOYY Inc. (NASDAQ:YYGet Rating) by 10.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 141,893 shares of the information services provider’s stock after purchasing an additional 13,050 shares during the quarter. Renaissance Group LLC owned 0.18% of JOYY worth $6,446,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of YY. Capital World Investors increased its position in shares of JOYY by 38.3% in the third quarter. Capital World Investors now owns 3,149,581 shares of the information services provider’s stock valued at $172,692,000 after acquiring an additional 871,501 shares during the period. Carmignac Gestion increased its position in shares of JOYY by 48.4% in the third quarter. Carmignac Gestion now owns 1,747,632 shares of the information services provider’s stock valued at $95,814,000 after acquiring an additional 570,232 shares during the period. Krane Funds Advisors LLC increased its position in shares of JOYY by 0.9% in the fourth quarter. Krane Funds Advisors LLC now owns 1,172,339 shares of the information services provider’s stock valued at $53,259,000 after acquiring an additional 10,593 shares during the period. CoreView Capital Management Ltd purchased a new position in shares of JOYY in the fourth quarter valued at about $38,375,000. Finally, Greenwoods Asset Management Hong Kong Ltd. increased its position in shares of JOYY by 106.6% in the third quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 704,364 shares of the information services provider’s stock valued at $38,620,000 after acquiring an additional 363,364 shares during the period. Institutional investors own 78.48% of the company’s stock.

A number of equities research analysts have recently weighed in on YY shares. Benchmark cut their target price on shares of JOYY from $97.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday, March 16th. JPMorgan Chase & Co. raised shares of JOYY from an “underweight” rating to a “neutral” rating and set a $40.00 target price on the stock in a research note on Monday. Zacks Investment Research lowered shares of JOYY from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Finally, StockNews.com started coverage on shares of JOYY in a research note on Thursday, March 31st. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $86.75.

Shares of NASDAQ YY traded down $0.02 during midday trading on Friday, hitting $40.74. The stock had a trading volume of 550,594 shares, compared to its average volume of 810,499. The business’s 50 day moving average is $39.08 and its 200-day moving average is $45.18. The company has a market cap of $3.18 billion, a P/E ratio of -34.24 and a beta of 0.58. JOYY Inc. has a 52 week low of $23.14 and a 52 week high of $88.50. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.17.

JOYY (NASDAQ:YYGet Rating) last released its quarterly earnings data on Tuesday, March 15th. The information services provider reported $1.15 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $1.25. JOYY had a negative net margin of 3.15% and a positive return on equity of 2.03%. The firm had revenue of $663.71 million during the quarter, compared to analysts’ expectations of $652.42 million. During the same period in the previous year, the company earned ($0.29) earnings per share. As a group, analysts expect that JOYY Inc. will post 1.23 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 29th. Stockholders of record on Thursday, April 14th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, April 13th. This represents a $2.04 annualized dividend and a dividend yield of 5.01%. JOYY’s payout ratio is -170.59%.

JOYY Company Profile (Get Rating)

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video and audio-based social platforms. The company operates Bigo Live, a live streaming platform that allows users to live stream specific moments, such as showcase talents, socialize, and connect with other users worldwide; Likee, a short-form video social platform that focuses on enabling users to create short-form video; Hago, a casual game-oriented social platform; and imo, a chat and instant messaging application with functions, including video calls and other communication tools, such as group calls, document sharing, etc..

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Institutional Ownership by Quarter for JOYY (NASDAQ:YY)

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