Natixis Advisors LLC Trims Position in JOYY Inc. (NASDAQ:YY)

Natixis Advisors LLC reduced its holdings in JOYY Inc. (NASDAQ:YY) by 5.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,856 shares of the information services provider’s stock after selling 1,258 shares during the period. Natixis Advisors LLC’s holdings in JOYY were worth $628,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC grew its stake in shares of JOYY by 8.8% during the 4th quarter. Quadrant Capital Group LLC now owns 4,322 shares of the information services provider’s stock worth $172,000 after purchasing an additional 349 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in JOYY during the first quarter worth $3,235,000. GSA Capital Partners LLP acquired a new stake in JOYY during the first quarter valued at $1,162,000. Hsbc Holdings PLC increased its holdings in JOYY by 150.2% in the fourth quarter. Hsbc Holdings PLC now owns 124,682 shares of the information services provider’s stock valued at $4,950,000 after buying an additional 74,840 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of JOYY in the first quarter worth about $2,511,000. Institutional investors and hedge funds own 36.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on YY. JPMorgan Chase & Co. raised 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. Benchmark reissued a “hold” rating on shares of JOYY in a report on Thursday, August 29th.

JOYY Stock Up 1.3 %

YY opened at $36.06 on Friday. The firm’s fifty day simple moving average is $34.22 and its two-hundred day simple moving average is $32.60. JOYY Inc. has a 52-week low of $27.88 and a 52-week high of $43.20. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 6.79 and a beta of 0.24.

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.