StockNews.com Initiates Coverage on JOYY (NASDAQ:YY)
StockNews.com has initiated coverage on JOYY (NASDAQ:YY), issuing a "hold" rating. Benchmark recently upgraded JOYY from "hold" to "buy." JOYY's stock opened at $40.68, with a market cap of $2.19 billion and a PE ratio of 12.29. Institutional investors own 36.83% of JOYY, which operates social media platforms like Bigo Live and Likee. Despite a moderate buy rating, analysts suggest other stocks may be better investments.
StockNews.com assumed coverage on shares of JOYY (NASDAQ:YY - Get Free Report) in a research note issued on Friday. The brokerage set a "hold" rating on the information services provider's stock.
Separately, Benchmark upgraded JOYY from a "hold" rating to a "buy" rating in a research note on Tuesday, February 25th.
Get Our Latest Research Report on JOYY
JOYY Trading Up 0.4 %
Shares of NASDAQ YY opened at $40.68 on Friday. The firm has a market capitalization of $2.19 billion, a PE ratio of 12.29 and a beta of 0.21. JOYY has a one year low of $27.88 and a one year high of $55.31. The business has a 50-day moving average price of $44.10 and a two-hundred day moving average price of $40.82.
Institutional Trading of JOYY
Several institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in shares of JOYY by 1.2% during the third quarter. Geode Capital Management LLC now owns 72,152 shares of the information services provider's stock valued at $2,615,000 after acquiring an additional 877 shares during the period. Barclays PLC lifted its holdings in JOYY by 1.3% during the 3rd quarter. Barclays PLC now owns 20,543 shares of the information services provider's stock valued at $744,000 after purchasing an additional 270 shares during the last quarter. Aprio Wealth Management LLC acquired a new position in JOYY in the fourth quarter valued at about $202,000. Ritholtz Wealth Management grew its stake in JOYY by 69.1% during the fourth quarter. Ritholtz Wealth Management now owns 37,026 shares of the information services provider's stock worth $1,550,000 after buying an additional 15,127 shares during the last quarter. Finally, Retireful LLC acquired a new stake in shares of JOYY during the fourth quarter worth approximately $241,000. Institutional investors and hedge funds own 36.83% of the company's stock.
About JOYY
(Get 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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