JOYY (NASDAQ:YY) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of JOYY (NASDAQ:YY) from a hold rating to a buy rating in a report released on Wednesday morning.

Separately, Benchmark raised shares of JOYY from a “hold” rating to a “buy” rating in a report on Tuesday.

JOYY Stock Performance

Shares of NASDAQ YY opened at $49.00 on Wednesday. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 14.80 and a beta of 0.28. JOYY has a fifty-two week low of $27.88 and a fifty-two week high of $55.31. The firm’s 50-day simple moving average is $43.58 and its 200 day simple moving average is $38.53.

JOYY (NASDAQ:YY) last posted its earnings results on Tuesday, November 26th. The information services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.22. JOYY had a return on equity of 4.64% and a net margin of 9.02%. On average, sell-side analysts predict that JOYY will post 3.37 EPS for the current year.

Institutional Trading of JOYY

Institutional investors and hedge funds have recently modified their holdings of the business. OLP CAPITAL MANAGEMENT Ltd purchased a new position in JOYY in the fourth quarter valued at about $57,840,000. Yunqi Capital Ltd lifted its stake in JOYY by 102.3% in the fourth quarter. Yunqi Capital Ltd now owns 1,710,987 shares of the information services provider’s stock valued at $71,605,000 after purchasing an additional 865,285 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in JOYY in the fourth quarter valued at approximately $15,448,000. Whitefort Capital Management LP grew its holdings in JOYY by 168.3% during the third quarter. Whitefort Capital Management LP now owns 565,878 shares of the information services provider’s stock valued at $20,507,000 after purchasing an additional 354,932 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its position in JOYY by 1,793.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 304,355 shares of the information services provider’s stock worth $12,737,000 after buying an additional 288,285 shares during the last quarter. 36.83% of the stock is owned by hedge funds and other institutional investors.

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.