Vise Technologies Inc. acquired a new position in shares of JOYY Inc. (NASDAQ:YY – Free Report) during the third quarter, Holdings Channel reports. The fund acquired 7,486 shares of the information services provider’s stock, valued at approximately $311,000.
Several other large investors also recently made changes to their positions in YY. Wellington Management Group LLP bought a new stake in JOYY in the 2nd quarter valued at about $9,572,000. Public Employees Retirement System of Ohio acquired a new position in JOYY during the 2nd quarter worth approximately $8,973,000. Finally, Pinnacle Holdings LLC acquired a new position in JOYY during the 2nd quarter worth approximately $32,000. 36.83% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Separately, The Goldman Sachs Group upgraded JOYY to a “buy” rating in a report on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, JOYY has an average rating of “Buy” and an average target price of $66.00.
View Our Latest Report on JOYY
JOYY Stock Up 2.4%
NASDAQ YY traded up $1.91 on Friday, reaching $80.65. The company had a trading volume of 225,588 shares, compared to its average volume of 523,246. The company’s fifty day moving average is $80.01 and its 200 day moving average is $68.90. JOYY Inc. has a 52-week low of $30.91 and a 52-week high of $55.30. The stock has a market capitalization of $4.34 billion, a P/E ratio of 24.37 and a beta of 0.21.
About JOYY
JOYY Inc. is a technology company focused on live streaming, short-form video and online communication services. Its platforms include Bigo Live, which lets users broadcast and watch live video; Likee, a short-video creation and sharing app; and imo, a messaging and voice and video calling service. The company was founded in China as YY Inc. and adopted the JOYY name in 2019. It now serves users in markets around the world, with a focus on international audiences. Its former China-focused YY Live business was sold to Baidu in 2021.
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