JOYY Inc. $YY Shares Purchased by Prudential Financial Inc.

Prudential Financial Inc. boosted its position in shares of JOYY Inc. (NASDAQ:YY - Free Report) by 150.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 57,400 shares of the information services provider's stock after buying an additional 34,500 shares during the quarter. Prudential Financial Inc. owned approximately 0.11% of JOYY worth $2,385,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of YY. BRIGHT VALLEY CAPITAL Ltd boosted its stake in shares of JOYY by 249.2% during the 1st quarter. BRIGHT VALLEY CAPITAL Ltd now owns 1,312,841 shares of the information services provider's stock worth $55,113,000 after acquiring an additional 936,841 shares in the last quarter. Prudential PLC acquired a new position in JOYY in the 1st quarter worth about $44,090,000. Canada Pension Plan Investment Board boosted its position in JOYY by 23.7% during the first quarter. Canada Pension Plan Investment Board now owns 528,273 shares of the information services provider's stock worth $22,177,000 after purchasing an additional 101,173 shares in the last quarter. Nuveen LLC acquired a new stake in JOYY in the first quarter valued at approximately $16,926,000. Finally, LSV Asset Management grew its holdings in JOYY by 1.6% in the second quarter. LSV Asset Management now owns 349,299 shares of the information services provider's stock valued at $14,513,000 after purchasing an additional 5,400 shares during the period. Institutional investors and hedge funds own 36.83% of the company's stock.

JOYY Trading Down 0.4%

Shares of YY stock opened at $61.93 on Friday. JOYY Inc. has a twelve month low of $30.91 and a twelve month high of $55.31. The company's 50-day moving average price is $59.71 and its 200-day moving average price is $54.87. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 18.71 and a beta of 0.21.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Morgan Stanley set a $66.00 target price on JOYY in a research report on Monday, November 24th. Citigroup reiterated a "buy" rating on shares of JOYY in a research report on Tuesday, September 2nd. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $66.00.

Get Our Latest Report on YY

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.

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