Wellington Management Group LLP Cuts Stock Position in JOYY Inc. (NASDAQ:YY)

Wellington Management Group LLP trimmed its position in JOYY Inc. (NASDAQ:YY) by 80.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,441 shares of the information services provider’s stock after selling 73,923 shares during the period. Wellington Management Group LLP’s holdings in JOYY were worth $632,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of YY. Loomis Sayles & Co. L P purchased a new position in shares of JOYY during the 3rd quarter worth approximately $25,000. Atlas Capital Advisors LLC purchased a new position in JOYY in the second quarter worth $29,000. EverSource Wealth Advisors LLC acquired a new stake in JOYY in the second quarter valued at $52,000. Blue Trust Inc. boosted its position 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 worth $49,000 after purchasing an additional 1,591 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of JOYY by 12.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,634 shares of the information services provider’s stock worth $79,000 after purchasing an additional 300 shares during the period. 36.83% of the stock is owned by institutional investors and hedge funds.

JOYY Trading Up 10.5 %

NASDAQ YY opened at $40.78 on Friday. The business’s 50-day moving average price is $36.39 and its 200 day moving average price is $34.46. JOYY Inc. has a twelve month low of $27.88 and a twelve month high of $42.76. The company has a market capitalization of $2.20 billion, a PE ratio of 12.32 and a beta of 0.27.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Benchmark restated a “hold” rating on shares of JOYY in a research report on Thursday, August 29th. JPMorgan Chase & Co. raised their target price on shares of JOYY from $30.00 to $35.00 and gave the company a “neutral” rating in a report 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.