JOYY (NASDAQ:YY) Upgraded at Benchmark

JOYY (NASDAQ:YY) was upgraded by research analysts at Benchmark from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Marketbeat Ratings reports.

JOYY Trading Up 2.3 %

Shares of JOYY stock opened at $50.10 on Tuesday. The company has a fifty day moving average price of $42.87 and a 200 day moving average price of $38.21. JOYY has a twelve month low of $27.88 and a twelve month high of $51.99. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 15.14 and a beta of 0.28.

JOYY (NASDAQ:YY) last issued its earnings results on Tuesday, November 26th. The information services provider reported $1.01 earnings per share for the quarter, topping 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%. Analysts forecast that JOYY will post 3.37 earnings per share for the current year.

Institutional Trading of JOYY

Several large investors have recently modified their holdings of the business. OLP CAPITAL MANAGEMENT Ltd bought a new stake in JOYY in the fourth quarter valued at about $57,840,000. Yunqi Capital Ltd boosted its holdings in JOYY by 102.3% in the fourth quarter. Yunqi Capital Ltd now owns 1,710,987 shares of the information services provider’s stock worth $71,605,000 after purchasing an additional 865,285 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of JOYY during the fourth quarter worth $15,448,000. Whitefort Capital Management LP lifted its position in shares of JOYY by 168.3% in the 3rd quarter. Whitefort Capital Management LP now owns 565,878 shares of the information services provider’s stock worth $20,507,000 after buying an additional 354,932 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in shares of JOYY by 1,793.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 304,355 shares of the information services provider’s stock valued at $12,737,000 after buying an additional 288,285 shares during the period. 36.83% of the stock is currently owned by institutional investors and hedge funds.

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.