E Fund Management Co. Ltd. Grows Position in JOYY Inc. (NASDAQ:YY)

E Fund Management Co. Ltd. lifted its position in JOYY Inc. (NASDAQ:YY) by 222.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 127,843 shares of the information services provider’s stock after acquiring an additional 88,157 shares during the quarter. JOYY comprises about 0.3% of E Fund Management Co. Ltd.’s portfolio, making the stock its 28th biggest holding. E Fund Management Co. Ltd.’s holdings in JOYY were worth $5,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. New York State Common Retirement Fund lifted its position in shares of JOYY by 5.1% during the 4th quarter. New York State Common Retirement Fund now owns 113,893 shares of the information services provider’s stock valued at $4,522,000 after buying an additional 5,550 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of JOYY by 2.0% during the fourth quarter. California Public Employees Retirement System now owns 60,051 shares of the information services provider’s stock worth $2,384,000 after purchasing an additional 1,171 shares in the last quarter. Mackenzie Financial Corp acquired a new position in shares of JOYY during the 4th quarter worth about $4,466,000. Polunin Capital Partners Ltd purchased a new position in JOYY in the 4th quarter valued at about $4,399,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in JOYY by 3.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,001 shares of the information services provider’s stock worth $1,231,000 after buying an additional 1,131 shares during the last quarter. 36.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. StockNews.com upgraded JOYY from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Bank of America reissued a “neutral” rating and issued a $35.00 price target on shares of JOYY in a research note on Monday, March 25th.

JOYY Stock Up 2.4 %

YY traded up $0.81 on Thursday, reaching $33.98. The company had a trading volume of 318,462 shares, compared to its average volume of 629,465. The stock has a 50-day moving average price of $32.42 and a 200-day moving average price of $34.91. The stock has a market capitalization of $2.11 billion, a PE ratio of 6.67 and a beta of 0.35. JOYY Inc. has a 1 year low of $24.12 and a 1 year high of $43.20.

JOYY (NASDAQ:YY) last announced its quarterly earnings data on Monday, March 18th. The information services provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The company had revenue of $569.84 million during the quarter, compared to the consensus estimate of $572.51 million. JOYY had a net margin of 13.31% and a return on equity of 5.13%. During the same quarter in the prior year, the firm earned $0.49 EPS. As a group, analysts expect that JOYY Inc. will post 3.57 earnings per share for the current fiscal year.

About JOYY

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. The company operates Bigo Live, a social live streaming platform that allows users to live stream specific moments, such as showcase talents, socialize, and connect with other users worldwide; Likee, a short-form video social platform that focuses on enabling users to create short-form video; Hago, a multiuser social networking platform that provides casual games; imo, an instant messaging application with functions, including video calls and other communication tools, such as group calls, document sharing, etc.; and Shopline, a smart commerce enabler that provides an integrated omnichannel platform for merchants to create and grow brands online and reach customers.