Connor Clark & Lunn Investment Management Ltd. Buys 74,232 Shares of JOYY Inc. (NASDAQ:YY)

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of JOYY Inc. (NASDAQ:YY) by 631.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 85,983 shares of the information services provider’s stock after purchasing an additional 74,232 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in JOYY were worth $3,598,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GSA Capital Partners LLP boosted its position in shares of JOYY by 25.9% in the third quarter. GSA Capital Partners LLP now owns 11,846 shares of the information services provider’s stock worth $429,000 after purchasing an additional 2,434 shares during the period. Natixis Advisors LLC raised its position in shares of JOYY by 1.7% during the 3rd quarter. Natixis Advisors LLC now owns 21,208 shares of the information services provider’s stock valued at $769,000 after purchasing an additional 352 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in JOYY by 45.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 99,748 shares of the information services provider’s stock worth $3,615,000 after buying an additional 31,341 shares during the period. Cape Ann Asset Management Ltd boosted its holdings in JOYY by 47.8% in the 3rd quarter. Cape Ann Asset Management Ltd now owns 476,900 shares of the information services provider’s stock worth $17,283,000 after buying an additional 154,200 shares during the period. Finally, Loomis Sayles & Co. L P bought a new stake in JOYY during the third quarter valued at about $25,000. Hedge funds and other institutional investors own 36.83% of the company’s stock.

JOYY Trading Up 3.0 %

Shares of YY stock opened at $49.09 on Tuesday. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 14.83 and a beta of 0.21. JOYY Inc. has a 12-month low of $27.88 and a 12-month high of $55.31. The stock’s 50-day moving average price is $45.56 and its 200-day moving average price is $39.79.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on YY shares. StockNews.com lowered JOYY from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Benchmark raised shares of JOYY from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th.

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.