Capital World Investors Sells 585,235 Shares of JOYY Inc. (NASDAQ:YY)

Capital World Investors lessened its holdings in shares of JOYY Inc. (NASDAQ:YY) by 49.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 592,383 shares of the information services provider’s stock after selling 585,235 shares during the quarter. Capital World Investors owned approximately 0.97% of JOYY worth $18,216,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its stake in JOYY by 4.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,008,508 shares of the information services provider’s stock valued at $40,038,000 after purchasing an additional 45,232 shares during the last quarter. Yunqi Capital Ltd lifted its stake in JOYY by 52.8% during the first quarter. Yunqi Capital Ltd now owns 783,202 shares of the information services provider’s stock worth $24,083,000 after purchasing an additional 270,564 shares during the period. Polunin Capital Partners Ltd raised its holdings in shares of JOYY by 59.3% in the 1st quarter. Polunin Capital Partners Ltd now owns 176,500 shares of the information services provider’s stock worth $5,427,000 after buying an additional 65,700 shares in the last quarter. E Fund Management Co. Ltd. lifted its position in shares of JOYY by 222.1% during the 4th quarter. E Fund Management Co. Ltd. now owns 127,843 shares of the information services provider’s stock worth $5,075,000 after buying an additional 88,157 shares during the period. Finally, Hsbc Holdings PLC grew its position 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 acquiring an additional 74,840 shares during the period. 36.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of JOYY from a “buy” rating to a “hold” rating in a research note on Saturday, May 11th.

JOYY Price Performance

YY stock opened at $33.76 on Friday. The business has a fifty day moving average price of $31.42 and a 200 day moving average price of $32.00. JOYY Inc. has a fifty-two week low of $27.88 and a fifty-two week high of $43.20. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 6.36 and a beta of 0.25.

JOYY (NASDAQ:YY) last issued its quarterly earnings results on Tuesday, May 28th. The information services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.19. The business had revenue of $564.56 million for the quarter, compared to the consensus estimate of $553.36 million. JOYY had a net margin of 14.19% and a return on equity of 5.47%. During the same quarter in the prior year, the company earned $0.57 EPS. On average, equities analysts expect that JOYY Inc. will post 3.51 earnings per share for the current fiscal 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.