JOYY (NASDAQ:YY) Sets New 1-Year High – Still a Buy?

JOYY Inc. (NASDAQ:YY) hit a new 52-week high during mid-day trading 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 1.2 %

The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 14.24 and a beta of 0.28. The company’s 50-day simple moving average is $42.03 and its 200-day simple moving average is $37.63.

JOYY (NASDAQ:YY) last announced its earnings results 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%. On average, equities research analysts expect that JOYY Inc. will post 3.37 earnings per share for the current fiscal year.

Institutional Trading of JOYY

A number of institutional investors and hedge funds have recently added to or reduced their stakes in YY. Charles Schwab Investment Management Inc. grew its holdings in JOYY by 45.8% during 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 acquiring an additional 31,341 shares during the period. Cape Ann Asset Management Ltd increased its holdings in 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 worth $17,283,000 after purchasing an additional 154,200 shares in the last quarter. FMR LLC lifted its stake in 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 buying an additional 28,126 shares during the period. China Universal Asset Management Co. Ltd. bought a new position in shares of JOYY during the 3rd quarter worth approximately $725,000. Finally, Ritholtz Wealth Management boosted its holdings in shares of JOYY by 69.1% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 36.83% of the company’s stock.

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.