JOYY (NASDAQ:YY) Sets New 12-Month High – What’s Next?

Shares of JOYY Inc. (NASDAQ:YY) reached a new 52-week high on Friday . The stock traded as high as $45.45 and last traded at $44.57, with a volume of 54480 shares. The stock had previously closed at $43.49.

JOYY Stock Up 3.8 %

The company has a fifty day simple moving average of $39.53 and a two-hundred day simple moving average of $36.31. The stock has a market capitalization of $2.43 billion, a P/E ratio of 13.62 and a beta of 0.27.

JOYY (NASDAQ:YY) last posted its earnings results on Tuesday, November 26th. The information services provider reported $1.01 earnings per share 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%. As a group, equities analysts forecast that JOYY Inc. will post 3.37 earnings per share for the current year.

Institutional Trading of JOYY

Institutional investors have recently modified their holdings of the company. FMR LLC increased its position in shares of JOYY by 4.3% in the third quarter. FMR LLC now owns 678,551 shares of the information services provider’s stock valued at $24,591,000 after acquiring an additional 28,126 shares during the last quarter. Whitefort Capital Management LP increased its position in shares of JOYY by 168.3% in the third quarter. Whitefort Capital Management LP now owns 565,878 shares of the information services provider’s stock valued at $20,507,000 after acquiring an additional 354,932 shares during the last quarter. Cape Ann Asset Management Ltd increased its position in shares of JOYY by 47.8% in the third quarter. Cape Ann Asset Management Ltd now owns 476,900 shares of the information services provider’s stock valued at $17,283,000 after acquiring an additional 154,200 shares during the last quarter. Marshall Wace LLP increased its position in shares of JOYY by 6.6% in the second quarter. Marshall Wace LLP now owns 162,280 shares of the information services provider’s stock valued at $4,883,000 after acquiring an additional 10,054 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of JOYY in the third quarter valued at about $4,383,000. 36.83% of the stock is currently owned by 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.