XTX Topco Ltd Acquires New Holdings in JOYY Inc. $YY

XTX Topco Ltd purchased a new stake in shares of JOYY Inc. (NASDAQ:YY) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 12,179 shares of the information services provider’s stock, valued at approximately $506,000.

Other large investors also recently modified their holdings of the company. Prudential PLC acquired a new stake in JOYY in the first quarter worth about $44,090,000. BRIGHT VALLEY CAPITAL Ltd increased its stake in 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 valued at $55,113,000 after buying an additional 936,841 shares during the period. Nuveen LLC bought a new stake in shares of JOYY during the 1st quarter worth about $16,926,000. Nan Fung Trinity HK Ltd. bought a new stake in shares of JOYY during the 2nd quarter worth about $11,538,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of JOYY by 118.4% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 296,334 shares of the information services provider’s stock worth $12,313,000 after acquiring an additional 160,676 shares during the period. 36.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Morgan Stanley set a $66.00 price objective on shares of JOYY in a research note on Monday, November 24th. Citigroup reaffirmed a “buy” rating on shares of JOYY in a research note on Tuesday, September 2nd. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $66.00.

JOYY Price Performance

Shares of YY opened at $61.93 on Friday. The firm’s 50 day moving average is $59.71 and its 200-day moving average is $54.87. JOYY Inc. has a 12-month low of $30.91 and a 12-month high of $55.31. The stock has a market capitalization of $3.33 billion, a P/E ratio of 18.71 and a beta of 0.21.

JOYY Profile

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.