Wealthquest Corp Buys New Shares in JOYY Inc. (NASDAQ:YY)

Wealthquest Corp bought a new stake in JOYY Inc. (NASDAQ:YY) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 388,376 shares of the information services provider’s stock, valued at approximately $16,137,000. JOYY accounts for approximately 0.7% of Wealthquest Corp’s holdings, making the stock its 26th largest position.

Several other hedge funds have also made changes to their positions in the stock. OLP CAPITAL MANAGEMENT Ltd acquired a new stake in JOYY during the fourth quarter valued at approximately $57,840,000. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in JOYY by 4,414.1% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 435,878 shares of the information services provider’s stock valued at $18,111,000 after purchasing an additional 426,222 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in JOYY during the fourth quarter valued at approximately $15,448,000. D. E. Shaw & Co. Inc. boosted its holdings in JOYY by 1,793.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 304,355 shares of the information services provider’s stock valued at $12,737,000 after purchasing an additional 288,285 shares in the last quarter. Finally, Krane Funds Advisors LLC boosted its holdings in JOYY by 12.0% during the fourth quarter. Krane Funds Advisors LLC now owns 1,500,081 shares of the information services provider’s stock valued at $62,778,000 after purchasing an additional 160,545 shares in the last quarter. Institutional investors own 36.83% of the company’s stock.

JOYY Trading Up 0.1%

NASDAQ:YY opened at $50.48 on Thursday. JOYY Inc. has a 1 year low of $30.91 and a 1 year high of $55.31. The firm has a 50 day moving average of $50.14 and a 200-day moving average of $45.94. The stock has a market capitalization of $2.72 billion, a P/E ratio of 15.25 and a beta of 0.21.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen started coverage on JOYY in a report on Monday, May 19th. They set a “hold” rating on the stock.

JOYY Profile

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.