Caxton Associates LP Buys 23,440 Shares of JOYY Inc. (NASDAQ:YY)

Caxton Associates LP raised its stake in shares of JOYY Inc. (NASDAQ:YY) by 39.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,551 shares of the information services provider’s stock after acquiring an additional 23,440 shares during the quarter. Caxton Associates LP owned approximately 0.14% of JOYY worth $2,484,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Atlas Capital Advisors LLC bought a new stake in JOYY during the 2nd quarter valued at $29,000. Blue Trust Inc. lifted its holdings 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 purchasing an additional 1,591 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new stake in shares of JOYY during the 2nd quarter valued at $52,000. Headlands Technologies LLC lifted its holdings in shares of JOYY by 967.6% during the 1st quarter. Headlands Technologies LLC now owns 3,918 shares of the information services provider’s stock valued at $120,000 after purchasing an additional 3,551 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of JOYY by 53.3% during 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. Institutional investors own 36.83% of the company’s stock.

Analysts Set New Price Targets

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

JOYY Price Performance

Shares of YY stock opened at $36.33 on Thursday. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 6.84 and a beta of 0.24. The business has a fifty day moving average of $34.55 and a 200 day moving average of $32.87. JOYY Inc. has a 1 year low of $27.88 and a 1 year high of $43.20.

JOYY (NASDAQ:YY) last issued its earnings results on Tuesday, August 27th. The information services provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.27. The company had revenue of $565.13 million during the quarter, compared to analyst estimates of $556.82 million. JOYY had a return on equity of 4.98% and a net margin of 9.53%. As a group, equities research analysts expect that JOYY Inc. will post 3.4 earnings per share 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.