Marshall Wace LLP Has $4.88 Million Position in JOYY Inc. (NASDAQ:YY)

Marshall Wace LLP increased its holdings in shares of JOYY Inc. (NASDAQ:YY) by 6.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 162,280 shares of the information services provider’s stock after buying an additional 10,054 shares during the period. Marshall Wace LLP owned about 0.27% of JOYY worth $4,883,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Atlas Capital Advisors LLC acquired a new stake in shares of JOYY in the second quarter valued at about $29,000. Blue Trust Inc. increased its position in JOYY by 22,728.6% during the 2nd 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 during the period. EverSource Wealth Advisors LLC bought a new position in JOYY during the 2nd quarter worth approximately $52,000. Headlands Technologies LLC lifted its position in shares of JOYY by 967.6% in the 1st quarter. Headlands Technologies LLC now owns 3,918 shares of the information services provider’s stock worth $120,000 after purchasing an additional 3,551 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of JOYY by 53.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 7,751 shares of the information services provider’s stock valued at $233,000 after purchasing an additional 2,694 shares during the last quarter. 36.83% of the stock is owned by institutional investors.

JOYY Stock Up 0.9 %

JOYY stock opened at $36.58 on Wednesday. The company has a market capitalization of $2.17 billion, a PE ratio of 6.89 and a beta of 0.24. JOYY Inc. has a 12-month low of $27.88 and a 12-month high of $43.20. The firm’s fifty day moving average is $34.75 and its 200 day moving average is $33.00.

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on YY shares. JPMorgan Chase & Co. lifted their target price on shares of JOYY from $30.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. Benchmark reissued a “hold” rating on shares of JOYY in a research note on Thursday, August 29th.

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.