JOYY (NASDAQ:YY) Reaches New 52-Week High – What’s Next?

JOYY Inc. (NASDAQ:YY)’s stock price hit a new 52-week high on Friday . The company traded as high as $47.20 and last traded at $46.69, with a volume of 43750 shares traded. The stock had previously closed at $45.45.

JOYY Stock Performance

The company has a 50-day moving average of $41.40 and a 200-day moving average of $37.11. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 13.84 and a beta of 0.28.

JOYY (NASDAQ:YY) last posted its quarterly earnings results on Tuesday, November 26th. The information services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.79 by $0.22. JOYY had a return on equity of 4.64% and a net margin of 9.02%. As a group, equities research analysts forecast that JOYY Inc. will post 3.37 EPS for the current year.

Hedge Funds Weigh In On JOYY

Institutional investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new position in shares of JOYY in the 4th quarter valued at about $25,000. Loomis Sayles & Co. L P bought a new stake in shares of JOYY in the third quarter valued at approximately $25,000. Global Retirement Partners LLC increased its holdings in shares of JOYY by 71.5% during the 4th quarter. Global Retirement Partners LLC now owns 1,072 shares of the information services provider’s stock worth $45,000 after purchasing an additional 447 shares during the period. Rhumbline Advisers raised its stake in shares of JOYY by 63.0% in the fourth quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider’s stock valued at $55,000 after purchasing an additional 510 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in JOYY by 12.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,634 shares of the information services provider’s stock valued at $79,000 after acquiring an additional 300 shares during the period. 36.83% of the stock is owned by 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.