Connor Clark & Lunn Investment Management Ltd. Increases Holdings in JOYY Inc. (NASDAQ:YY)

Connor Clark & Lunn Investment Management Ltd. raised its stake in JOYY Inc. (NASDAQ:YY) by 631.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,983 shares of the information services provider’s stock after acquiring an additional 74,232 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.16% of JOYY worth $3,598,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in JOYY in the 4th quarter valued at approximately $25,000. Loomis Sayles & Co. L P bought a new position in shares of JOYY during the third quarter valued at $25,000. Global Retirement Partners LLC boosted its position in shares of JOYY by 71.5% during the fourth quarter. Global Retirement Partners LLC now owns 1,072 shares of the information services provider’s stock valued at $45,000 after buying an additional 447 shares during the last quarter. Rhumbline Advisers increased its holdings in JOYY by 63.0% in the 4th quarter. Rhumbline Advisers now owns 1,319 shares of the information services provider’s stock worth $55,000 after buying an additional 510 shares in the last quarter. Finally, Aprio Wealth Management LLC bought a new position in JOYY during the 4th quarter valued at about $202,000. Hedge funds and other institutional investors own 36.83% of the company’s stock.

JOYY Stock Up 3.0 %

JOYY stock opened at $49.09 on Tuesday. JOYY Inc. has a 52-week low of $27.88 and a 52-week high of $55.31. The company has a market cap of $2.64 billion, a P/E ratio of 14.83 and a beta of 0.21. The business has a 50-day simple moving average of $45.56 and a two-hundred day simple moving average of $39.79.

Analysts Set New Price Targets

Several research analysts have recently weighed in on YY shares. Benchmark raised shares of JOYY from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th. StockNews.com lowered shares of JOYY from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th.

JOYY 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.