LMR Partners LLP Sells 9,704 Shares of JOYY Inc. (NASDAQ:YY)

LMR Partners LLP lessened its holdings in shares of JOYY Inc. (NASDAQ:YY) by 9.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,994 shares of the information services provider’s stock after selling 9,704 shares during the period. LMR Partners LLP’s holdings in JOYY were worth $3,370,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Canada Pension Plan Investment Board lifted its holdings in shares of JOYY by 10.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 730,800 shares of the information services provider’s stock valued at $21,990,000 after purchasing an additional 66,474 shares in the last quarter. Krane Funds Advisors LLC lifted its stake in JOYY by 10.5% in the 2nd quarter. Krane Funds Advisors LLC now owns 1,414,457 shares of the information services provider’s stock valued at $42,561,000 after acquiring an additional 134,394 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in JOYY in the 3rd quarter valued at approximately $725,000. Point72 Hong Kong Ltd lifted its stake in JOYY by 22.3% in the 2nd quarter. Point72 Hong Kong Ltd now owns 3,022,665 shares of the information services provider’s stock valued at $90,952,000 after acquiring an additional 552,082 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in JOYY by 12.9% in the 2nd 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 in the last quarter. Institutional investors own 36.83% of the company’s stock.

JOYY Stock Down 1.3 %

NASDAQ:YY opened at $36.18 on Tuesday. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 8.78 and a beta of 0.25. JOYY Inc. has a twelve month low of $27.88 and a twelve month high of $42.65. The stock’s 50 day moving average price is $35.04 and its two-hundred day moving average price is $33.49.

JOYY (NASDAQ:YY) last posted 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 firm had revenue of $565.13 million for the quarter, compared to analyst estimates of $556.82 million. JOYY had a return on equity of 4.98% and a net margin of 9.53%. As a group, analysts anticipate that JOYY Inc. will post 3.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on YY shares. JPMorgan Chase & Co. boosted their target price on JOYY from $30.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Benchmark restated a “hold” rating on shares of JOYY in a research note on Thursday, August 29th.

JOYY Company 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.