Cape Ann Asset Management Ltd Has $17.28 Million Stake in JOYY Inc. (NASDAQ:YY)

by · The Markets Daily

Cape Ann Asset Management Ltd boosted its position in JOYY Inc. (NASDAQ:YY – Free Report) by 47.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 476,900 shares of the information services provider’s stock after acquiring an additional 154,200 shares during the period. JOYY accounts for 11.8% of Cape Ann Asset Management Ltd’s portfolio, making the stock its 5th largest position. Cape Ann Asset Management Ltd’s holdings in JOYY were worth $17,283,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Atlas Capital Advisors LLC acquired a new position in JOYY during the 2nd quarter valued at about $29,000. Blue Trust Inc. raised its stake in shares of JOYY by 22,728.6% during the second quarter. Blue Trust Inc. now owns 1,598 shares of the information services provider’s stock worth $49,000 after buying an additional 1,591 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new position in JOYY in the second quarter valued at approximately $52,000. Northwestern Mutual Wealth Management Co. boosted its stake in JOYY by 12.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,634 shares of the information services provider’s stock valued at $79,000 after acquiring an additional 300 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in JOYY during the 3rd quarter worth $179,000. 36.83% of the stock is currently owned by institutional investors and hedge funds.

JOYY Stock Performance

Shares of NASDAQ YY opened at $33.91 on Friday. The firm has a 50 day moving average price of $35.04 and a 200 day moving average price of $33.56. The stock has a market cap of $1.94 billion, a P/E ratio of 8.23 and a beta of 0.25. JOYY Inc. has a 52-week low of $27.88 and a 52-week high of $41.84.

JOYY (NASDAQ:YY – Get Free Report) last announced its quarterly earnings results on Tuesday, August 27th. The information services provider reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.27. The company had revenue of $565.13 million during the quarter, compared to analyst estimates of $556.82 million. JOYY had a net margin of 9.53% and a return on equity of 4.98%. Analysts predict that JOYY Inc. will post 3.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on JOYY from $30.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. Benchmark reissued a “hold” rating on shares of JOYY in a research note on Thursday, August 29th.

Get Our Latest Stock Report on JOYY

JOYY Profile

(Free Report)

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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