Natixis Advisors LLC Boosts Stake in JOYY Inc. (NASDAQ:YY)

Natixis Advisors LLC lifted its holdings in JOYY Inc. (NASDAQ:YY) by 1.7% during the third quarter, Holdings Channel reports. The institutional investor owned 21,208 shares of the information services provider’s stock after purchasing an additional 352 shares during the quarter. Natixis Advisors LLC’s holdings in JOYY were worth $769,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. GSA Capital Partners LLP boosted its position in JOYY by 25.9% during the third quarter. GSA Capital Partners LLP now owns 11,846 shares of the information services provider’s stock worth $429,000 after purchasing an additional 2,434 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in JOYY during the third quarter worth $301,000. China Universal Asset Management Co. Ltd. purchased a new stake in JOYY during the third quarter worth $725,000. DekaBank Deutsche Girozentrale boosted its position in JOYY by 5.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,751 shares of the information services provider’s stock worth $291,000 after purchasing an additional 421 shares in the last quarter. Finally, Moody Aldrich Partners LLC purchased a new stake in JOYY during the third quarter worth $332,000. 36.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on YY. JPMorgan Chase & Co. boosted their target price on JOYY from $30.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Benchmark reiterated a “hold” rating on shares of JOYY in a research report on Thursday, August 29th.

JOYY Stock Up 10.6 %

NASDAQ YY opened at $38.70 on Thursday. JOYY Inc. has a fifty-two week low of $27.88 and a fifty-two week high of $40.98. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 9.39 and a beta of 0.25. The business has a fifty day moving average of $35.08 and a 200-day moving average of $33.61.

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