JOYY Inc. (NASDAQ:YY) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lifted its position in shares of JOYY Inc. (NASDAQ:YY) by 10.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 730,800 shares of the information services provider’s stock after purchasing an additional 66,474 shares during the quarter. Canada Pension Plan Investment Board owned 1.23% of JOYY worth $21,990,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Jupiter Asset Management Ltd. acquired a new stake in shares of JOYY during the 1st quarter worth about $3,235,000. GSA Capital Partners LLP acquired a new stake in shares of JOYY during the 1st quarter worth about $1,162,000. Hsbc Holdings PLC increased its position in shares of JOYY by 150.2% during the 4th quarter. Hsbc Holdings PLC now owns 124,682 shares of the information services provider’s stock worth $4,950,000 after purchasing an additional 74,840 shares during the last quarter. Krane Funds Advisors LLC increased its position in shares of JOYY by 10.5% during the 2nd quarter. Krane Funds Advisors LLC now owns 1,414,457 shares of the information services provider’s stock worth $42,561,000 after purchasing an additional 134,394 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of JOYY during the 1st quarter worth about $2,511,000. Institutional investors and hedge funds own 36.83% of the company’s stock.

Analysts Set New Price Targets

YY has been the subject of several research reports. Benchmark reaffirmed a “hold” rating on shares of JOYY in a research report on Thursday, August 29th. JPMorgan Chase & Co. lifted their target price on JOYY from $30.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, September 3rd.

JOYY Stock Down 1.0 %

YY stock opened at $35.26 on Monday. The business has a 50 day moving average price of $34.42 and a 200 day moving average price of $32.76. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 6.64 and a beta of 0.24. JOYY Inc. has a fifty-two week low of $27.88 and a fifty-two week high of $43.20.

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

About JOYY

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.