JOYY Target of Unusually High Options Trading (NASDAQ:YY)

JOYY Inc. (NASDAQ:YY) saw some unusual options trading activity on Wednesday. Investors purchased 2,276 put options on the stock. This is an increase of approximately 1,341% compared to the average volume of 158 put options.

JOYY Trading Down 0.4 %

Shares of YY stock opened at $36.89 on Friday. The company’s fifty day simple moving average is $36.31 and its 200-day simple moving average is $34.38. JOYY has a 52 week low of $27.88 and a 52 week high of $42.76. The company has a market cap of $1.99 billion, a PE ratio of 11.15 and a beta of 0.27.

Institutional Investors Weigh In On JOYY

Institutional investors and hedge funds have recently modified their holdings of the stock. Loomis Sayles & Co. L P acquired a new position in JOYY in the 3rd quarter worth $25,000. Atlas Capital Advisors LLC acquired a new stake in JOYY during the 2nd quarter valued at approximately $29,000. EverSource Wealth Advisors LLC acquired a new position in shares of JOYY in the 2nd quarter valued at approximately $52,000. Blue Trust Inc. boosted its stake in shares of 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 buying an additional 1,591 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 36.83% of the company’s stock.

Analysts Set New Price Targets

YY has been the topic of several analyst reports. Benchmark reaffirmed a “hold” rating on shares of JOYY in a research note on Thursday, August 29th. 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.

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.