JOYY (NASDAQ:YY) Stock Price Down 4.7%

JOYY Inc. (NASDAQ:YY)’s stock price was down 4.7% during trading on Monday . The company traded as low as $35.83 and last traded at $35.93. Approximately 360,654 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 492,588 shares. The stock had previously closed at $37.70.

Analyst Ratings Changes

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

JOYY Price Performance

The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 7.11 and a beta of 0.24. The firm’s fifty day moving average is $34.72 and its 200-day moving average is $32.96.

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

Hedge Funds Weigh In On JOYY

Several large investors have recently made changes to their positions in YY. Atlas Capital Advisors LLC acquired a new stake in JOYY during the 2nd quarter worth about $29,000. Blue Trust Inc. grew its position in JOYY by 22,728.6% during the second quarter. Blue Trust Inc. now owns 1,598 shares of the information services provider’s stock valued at $49,000 after purchasing an additional 1,591 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new stake in shares of JOYY during the 2nd quarter worth about $52,000. Northwestern Mutual Wealth Management Co. increased its position in JOYY by 12.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,634 shares of the information services provider’s stock worth $79,000 after buying an additional 300 shares during the last quarter. Finally, Headlands Technologies LLC lifted its stake in shares of JOYY by 967.6% in the first quarter. Headlands Technologies LLC now owns 3,918 shares of the information services provider’s stock worth $120,000 after buying an additional 3,551 shares during the last quarter. 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.