Connor Clark & Lunn Investment Management Ltd. Acquires 160,676 Shares of JOYY Inc. $YY

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in JOYY Inc. (NASDAQ:YY) by 118.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 296,334 shares of the information services provider’s stock after purchasing an additional 160,676 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in JOYY were worth $12,313,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in YY. BRIGHT VALLEY CAPITAL Ltd increased its stake in JOYY by 249.2% in the 1st quarter. BRIGHT VALLEY CAPITAL Ltd now owns 1,312,841 shares of the information services provider’s stock valued at $55,113,000 after buying an additional 936,841 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of JOYY in the second quarter valued at about $739,000. Public Employees Retirement System of Ohio increased its position in shares of JOYY by 0.9% in the second quarter. Public Employees Retirement System of Ohio now owns 128,826 shares of the information services provider’s stock valued at $5,353,000 after acquiring an additional 1,115 shares during the last quarter. Caxton Associates LLP bought a new stake in JOYY during the first quarter worth about $2,612,000. Finally, Amundi grew its stake in JOYY by 26.2% in the first quarter. Amundi now owns 30,794 shares of the information services provider’s stock valued at $1,296,000 after purchasing an additional 6,402 shares in the last quarter. Institutional investors and hedge funds own 36.83% of the company’s stock.

JOYY Price Performance

Shares of JOYY stock opened at $60.94 on Wednesday. The business has a fifty day simple moving average of $59.83 and a two-hundred day simple moving average of $52.70. JOYY Inc. has a 1 year low of $30.91 and a 1 year high of $55.31. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 18.41 and a beta of 0.21.

Analyst Ratings Changes

Separately, Citigroup reiterated a “buy” rating on shares of JOYY in a research note on Tuesday, September 2nd. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

About JOYY

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.