JOYY (NASDAQ:YY) Shares Gap Up – Still a Buy?

JOYY Inc. (NASDAQ:YY) gapped up prior to trading on Tuesday . The stock had previously closed at $42.94, but opened at $45.09. JOYY shares last traded at $43.45, with a volume of 72,840 shares.

JOYY Trading Down 0.1 %

The company’s fifty day simple moving average is $39.36 and its 200 day simple moving average is $36.25. The stock has a market capitalization of $2.38 billion, a P/E ratio of 13.34 and a beta of 0.27.

JOYY (NASDAQ:YY) last released its quarterly earnings results on Tuesday, November 26th. The information services provider reported $1.01 earnings per share 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%. Equities research analysts predict that JOYY Inc. will post 3.37 earnings per share for the current year.

Institutional Trading of JOYY

A number of hedge funds have recently bought and sold shares of the company. Loomis Sayles & Co. L P bought a new position in shares of JOYY in the third quarter worth approximately $25,000. EverSource Wealth Advisors LLC purchased a new position in JOYY during the 2nd quarter valued at about $52,000. Northwestern Mutual Wealth Management Co. lifted its position in JOYY by 12.9% during 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 during the period. Blue Trust Inc. boosted its stake in JOYY by 182.2% during the third quarter. Blue Trust Inc. now owns 4,510 shares of the information services provider’s stock worth $163,000 after acquiring an additional 2,912 shares in the last quarter. Finally, Aprio Wealth Management LLC bought a new position in shares of JOYY during the fourth quarter valued at approximately $202,000. Institutional investors own 36.83% of the company’s stock.

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.