JOYY (NASDAQ:YY) Trading Down 4.7% – Should You Sell?

JOYY Inc. (NASDAQ:YY) traded down 4.7% on Thursday . The company traded as low as $39.79 and last traded at $39.88. 280,199 shares were traded during mid-day trading, a decline of 44% from the average session volume of 499,252 shares. The stock had previously closed at $41.85.

JOYY Trading Down 2.0 %

The firm’s 50 day simple moving average is $37.82 and its 200-day simple moving average is $35.32. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 11.77 and a beta of 0.27.

Institutional Trading of JOYY

A number of large investors have recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P acquired a new stake in shares of JOYY in the third quarter valued at approximately $25,000. EverSource Wealth Advisors LLC acquired a new stake in JOYY during the 2nd quarter valued at $52,000. Northwestern Mutual Wealth Management Co. boosted its position in JOYY by 12.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,634 shares of the information services provider’s stock worth $79,000 after purchasing an additional 300 shares during the period. Blue Trust Inc. increased its holdings in shares of JOYY by 182.2% in the third quarter. Blue Trust Inc. now owns 4,510 shares of the information services provider’s stock valued at $163,000 after purchasing an additional 2,912 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of JOYY in the third quarter valued at $179,000. Institutional investors and hedge funds own 36.83% of the company’s stock.

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.