JOYY (NASDAQ:YY) Trading Up 8.1% – Here’s Why

JOYY Inc. (NASDAQ:YY) was up 8.1% during trading on Tuesday . The stock traded as high as $51.19 and last traded at $50.97. Approximately 450,510 shares traded hands during mid-day trading, an increase of 25% from the average daily volume of 361,575 shares. The stock had previously closed at $47.15.

JOYY Price Performance

The firm’s 50 day moving average is $42.68 and its 200 day moving average is $38.03. The company has a market capitalization of $2.69 billion, a PE ratio of 15.10 and a beta of 0.28.

JOYY (NASDAQ:YY) last issued its earnings results on Tuesday, November 26th. The information services provider reported $1.01 EPS for the quarter, topping the consensus estimate 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, analysts predict that JOYY Inc. will post 3.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in YY. OLP CAPITAL MANAGEMENT Ltd purchased a new stake in shares of JOYY in the 4th quarter worth about $57,840,000. Yunqi Capital Ltd grew its position in shares of JOYY by 102.3% in the 4th quarter. Yunqi Capital Ltd now owns 1,710,987 shares of the information services provider’s stock worth $71,605,000 after buying an additional 865,285 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of JOYY in the 4th quarter worth about $15,448,000. Whitefort Capital Management LP grew its position in shares of JOYY by 168.3% in the 3rd quarter. Whitefort Capital Management LP now owns 565,878 shares of the information services provider’s stock worth $20,507,000 after buying an additional 354,932 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its position in shares of JOYY by 1,793.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 304,355 shares of the information services provider’s stock worth $12,737,000 after buying an additional 288,285 shares during the period. 36.83% of the stock is 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.