Oaktree Fund Advisors LLC Purchases 8,336 Shares of JOYY Inc. (NASDAQ:YY)

Oaktree Fund Advisors LLC boosted its position in shares of JOYY Inc. (NASDAQ:YY) by 12.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 74,329 shares of the information services provider’s stock after buying an additional 8,336 shares during the quarter. JOYY accounts for 2.1% of Oaktree Fund Advisors LLC’s investment portfolio, making the stock its 14th biggest holding. Oaktree Fund Advisors LLC’s holdings in JOYY were worth $2,237,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in YY. Canada Pension Plan Investment Board increased its holdings in shares of JOYY by 1,758.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 664,326 shares of the information services provider’s stock worth $20,428,000 after acquiring an additional 628,573 shares during the last quarter. Jupiter Asset Management Ltd. increased its holdings in shares of JOYY by 356.3% in the second quarter. Jupiter Asset Management Ltd. now owns 480,000 shares of the information services provider’s stock valued at $14,443,000 after purchasing an additional 374,800 shares during the last quarter. Yunqi Capital Ltd raised its position in shares of JOYY by 52.8% in the first quarter. Yunqi Capital Ltd now owns 783,202 shares of the information services provider’s stock valued at $24,083,000 after purchasing an additional 270,564 shares during the period. LSV Asset Management boosted its holdings in shares of JOYY by 780.9% during the 2nd quarter. LSV Asset Management now owns 232,552 shares of the information services provider’s stock worth $6,997,000 after buying an additional 206,152 shares during the period. Finally, Krane Funds Advisors LLC grew its stake in JOYY by 10.5% in the 2nd quarter. Krane Funds Advisors LLC now owns 1,414,457 shares of the information services provider’s stock valued at $42,561,000 after buying an additional 134,394 shares during the last quarter. Institutional investors and hedge funds own 36.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on YY. Benchmark restated a “hold” rating on shares of JOYY in a research report on Thursday, August 29th. JPMorgan Chase & Co. lifted their price target on JOYY from $30.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd.

JOYY Stock Performance

NASDAQ:YY opened at $35.26 on Friday. JOYY Inc. has a 52 week low of $27.88 and a 52 week high of $43.20. The firm’s 50-day simple moving average is $34.42 and its 200 day simple moving average is $32.75. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 6.64 and a beta of 0.24.

JOYY (NASDAQ:YY) last announced its earnings results on Tuesday, August 27th. The information services provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.27. JOYY had a net margin of 9.53% and a return on equity of 4.98%. The firm had revenue of $565.13 million for the quarter, compared to analyst estimates of $556.82 million. Sell-side analysts anticipate that JOYY Inc. will post 3.4 EPS for the current year.

JOYY 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.