JOYY (NASDAQ:YY) Shares Gap Up – Still a Buy?

JOYY Inc. (NASDAQ:YY) gapped up before the market opened on Tuesday . The stock had previously closed at $42.94, but opened at $45.09. JOYY shares last traded at $43.45, with a volume of 72,840 shares trading hands.

JOYY Trading Down 0.1 %

The firm has a market cap of $2.38 billion, a P/E ratio of 13.34 and a beta of 0.27. The stock has a 50 day simple moving average of $39.36 and a 200-day simple moving average of $36.25.

JOYY (NASDAQ:YY) last released its quarterly earnings results on Tuesday, November 26th. The information services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.22. JOYY had a net margin of 9.02% and a return on equity of 4.64%. As a group, equities analysts forecast that JOYY Inc. will post 3.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On JOYY

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in YY. Barclays PLC boosted its stake in shares of JOYY by 1.3% during the 3rd quarter. Barclays PLC now owns 20,543 shares of the information services provider’s stock worth $744,000 after purchasing an additional 270 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of JOYY by 12.9% during 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 buying an additional 300 shares during the period. Natixis Advisors LLC boosted its position in shares of JOYY by 1.7% during the third quarter. Natixis Advisors LLC now owns 21,208 shares of the information services provider’s stock valued at $769,000 after buying an additional 352 shares during the period. DekaBank Deutsche Girozentrale grew its stake in shares of JOYY by 5.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,751 shares of the information services provider’s stock valued at $291,000 after buying an additional 421 shares during the last quarter. Finally, Loomis Sayles & Co. L P purchased a new stake in shares of JOYY in the third quarter worth approximately $25,000. 36.83% of the stock is currently owned by hedge funds and other institutional investors.

JOYY Company 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.