JOYY (NASDAQ:YY) Hits New 12-Month High – Here’s What Happened

JOYY Inc. (NASDAQ:YY)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $42.93 and last traded at $42.82, with a volume of 45190 shares changing hands. The stock had previously closed at $41.67.

JOYY Price Performance

The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 12.97 and a beta of 0.27. The firm has a fifty day moving average of $38.79 and a 200 day moving average of $35.94.

Institutional Investors Weigh In On JOYY

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board grew its stake in shares of JOYY by 10.0% in the second quarter. Canada Pension Plan Investment Board now owns 730,800 shares of the information services provider’s stock valued at $21,990,000 after buying an additional 66,474 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of JOYY by 45.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 99,748 shares of the information services provider’s stock valued at $3,615,000 after buying an additional 31,341 shares in the last quarter. FMR LLC grew its stake in shares of JOYY by 4.3% in the third quarter. FMR LLC now owns 678,551 shares of the information services provider’s stock valued at $24,591,000 after buying an additional 28,126 shares in the last quarter. Cape Ann Asset Management Ltd grew its stake in shares of JOYY by 47.8% in the third quarter. Cape Ann Asset Management Ltd now owns 476,900 shares of the information services provider’s stock valued at $17,283,000 after buying an additional 154,200 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of JOYY in the third quarter valued at $725,000. Institutional investors and hedge funds 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.