JOYY Inc. (NASDAQ:YY) Shares Sold by Krane Funds Advisors LLC

Krane Funds Advisors LLC lowered its position in JOYY Inc. (NASDAQ:YY) by 5.3% in the third quarter, HoldingsChannel reports. The firm owned 1,339,536 shares of the information services provider’s stock after selling 74,921 shares during the period. JOYY makes up about 1.7% of Krane Funds Advisors LLC’s portfolio, making the stock its 12th biggest holding. Krane Funds Advisors LLC’s holdings in JOYY were worth $48,545,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in YY. Atlas Capital Advisors LLC purchased a new position in JOYY during the second quarter worth about $29,000. EverSource Wealth Advisors LLC purchased a new stake in JOYY in the second quarter valued at approximately $52,000. Blue Trust Inc. raised its position in JOYY by 22,728.6% in the second quarter. Blue Trust Inc. now owns 1,598 shares of the information services provider’s stock valued at $49,000 after purchasing an additional 1,591 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in JOYY by 12.9% during the second 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 in the last quarter. Finally, Headlands Technologies LLC boosted its position in shares of JOYY by 967.6% during the first quarter. Headlands Technologies LLC now owns 3,918 shares of the information services provider’s stock worth $120,000 after buying an additional 3,551 shares during the period. Hedge funds and other institutional investors own 36.83% of the company’s stock.

JOYY Trading Down 0.5 %

JOYY stock opened at $33.35 on Tuesday. The firm has a market capitalization of $1.90 billion, a P/E ratio of 8.09 and a beta of 0.24. The stock’s fifty day simple moving average is $35.14 and its 200-day simple moving average is $33.34. JOYY Inc. has a twelve month low of $27.88 and a twelve month high of $43.20.

JOYY (NASDAQ:YY) last issued its quarterly earnings results on Tuesday, August 27th. The information services provider reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.27. The company had revenue of $565.13 million for the quarter, compared to the consensus estimate of $556.82 million. JOYY had a return on equity of 4.98% and a net margin of 9.53%. Sell-side analysts predict that JOYY Inc. will post 3.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on YY shares. JPMorgan Chase & Co. boosted their price objective on JOYY from $30.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, September 3rd. Benchmark reissued a “hold” rating on shares of JOYY in a research report on Thursday, August 29th.

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.