Migdal Insurance & Financial Holdings Ltd. Sells 9,899 Shares of JOYY Inc. (NASDAQ:YY)

Migdal Insurance & Financial Holdings Ltd. trimmed its stake in JOYY Inc. (NASDAQ:YY) by 71.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,979 shares of the information services provider’s stock after selling 9,899 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in JOYY were worth $157,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of YY. CWM LLC lifted its stake in shares of JOYY by 168.0% in the 3rd quarter. CWM LLC now owns 930 shares of the information services provider’s stock valued at $35,000 after purchasing an additional 583 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of JOYY by 221.8% during the 4th quarter. Blue Trust Inc. now owns 943 shares of the information services provider’s stock worth $36,000 after acquiring an additional 650 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of JOYY by 31.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the information services provider’s stock worth $45,000 after acquiring an additional 343 shares during the last quarter. Assetmark Inc. lifted its stake in shares of JOYY by 62.2% during the 3rd quarter. Assetmark Inc. now owns 2,226 shares of the information services provider’s stock worth $85,000 after acquiring an additional 854 shares during the last quarter. Finally, Ensign Peak Advisors Inc lifted its stake in shares of JOYY by 33.3% during the 1st quarter. Ensign Peak Advisors Inc now owns 4,600 shares of the information services provider’s stock worth $143,000 after acquiring an additional 1,150 shares during the last quarter. 36.83% of the stock is owned by institutional investors.

JOYY Trading Up 1.4 %

Shares of NASDAQ:YY opened at $32.66 on Friday. JOYY Inc. has a 12-month low of $24.12 and a 12-month high of $43.20. The business’s fifty day simple moving average is $32.27 and its 200-day simple moving average is $35.60. The company has a market capitalization of $2.02 billion, a PE ratio of 6.57 and a beta of 0.38.

JOYY (NASDAQ:YY) last announced its earnings results on Monday, March 18th. The information services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.13. JOYY had a return on equity of 5.13% and a net margin of 13.31%. The firm had revenue of $569.84 million for the quarter, compared to the consensus estimate of $572.51 million. During the same period in the previous year, the business earned $0.49 EPS. Research analysts predict that JOYY Inc. will post 3.57 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Bank of America reissued a “neutral” rating and set a $35.00 price target on shares of JOYY in a research note on Monday, March 25th. Benchmark reiterated a “hold” rating on shares of JOYY in a report on Tuesday, January 2nd. Finally, StockNews.com downgraded JOYY from a “buy” rating to a “hold” rating in a report on Monday, March 18th.

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. The company operates Bigo Live, a social live streaming platform that allows users to live stream specific moments, such as showcase talents, socialize, and connect with other users worldwide; Likee, a short-form video social platform that focuses on enabling users to create short-form video; Hago, a multiuser social networking platform that provides casual games; imo, an instant messaging application with functions, including video calls and other communication tools, such as group calls, document sharing, etc.; and Shopline, a smart commerce enabler that provides an integrated omnichannel platform for merchants to create and grow brands online and reach customers.