JOYY (NASDAQ:YY) Hits New 52-Week High – Time to Buy?

Shares of JOYY Inc. (NASDAQ:YY) hit a new 52-week high on Friday . The stock traded as high as $48.38 and last traded at $47.58, with a volume of 57497 shares trading hands. The stock had previously closed at $46.59.

JOYY Trading Up 0.8 %

The firm has a 50 day simple moving average of $41.90 and a two-hundred day simple moving average of $37.51. The company has a market capitalization of $2.53 billion, a PE ratio of 14.22 and a beta of 0.28.

JOYY (NASDAQ:YY) last issued its quarterly earnings data on Tuesday, November 26th. The information services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.22. JOYY had a return on equity of 4.64% and a net margin of 9.02%. Research analysts expect that JOYY Inc. will post 3.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On JOYY

Hedge funds and other institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in JOYY during the fourth quarter worth $25,000. Loomis Sayles & Co. L P purchased a new position in JOYY during the third quarter worth $25,000. Global Retirement Partners LLC increased its position in JOYY by 71.5% during the fourth quarter. Global Retirement Partners LLC now owns 1,072 shares of the information services provider’s stock worth $45,000 after buying an additional 447 shares in the last quarter. Rhumbline Advisers increased its position in JOYY by 63.0% during the fourth quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider’s stock worth $55,000 after buying an additional 510 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S increased its position in JOYY by 54.8% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,495 shares of the information services provider’s stock worth $104,000 after buying an additional 883 shares in the last quarter. 36.83% of the stock is owned by institutional investors and hedge funds.

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.