Handelsbanken Fonder AB cut its holdings in YY Inc (NASDAQ:YY) by 16.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,700 shares of the information services provider’s stock after selling 3,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in YY were worth $1,101,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. Hillhouse Capital Management Ltd. raised its stake in YY by 74.9% in the second quarter. Hillhouse Capital Management Ltd. now owns 942,575 shares of the information services provider’s stock valued at $94,701,000 after buying an additional 403,669 shares during the last quarter. FMR LLC raised its stake in YY by 25.3% in the second quarter. FMR LLC now owns 883,931 shares of the information services provider’s stock valued at $88,808,000 after buying an additional 178,670 shares during the last quarter. Boston Partners raised its stake in YY by 10.0% in the second quarter. Boston Partners now owns 549,939 shares of the information services provider’s stock valued at $55,252,000 after buying an additional 49,813 shares during the last quarter. Platinum Investment Management Ltd. purchased a new stake in YY in the second quarter valued at about $53,436,000. Finally, Pendal Group Ltd raised its stake in YY by 667.6% in the second quarter. Pendal Group Ltd now owns 496,943 shares of the information services provider’s stock valued at $49,928,000 after buying an additional 432,204 shares during the last quarter. Institutional investors own 61.25% of the company’s stock.
A number of research firms have commented on YY. BidaskClub cut YY from a “buy” rating to a “hold” rating in a research note on Thursday, June 28th. ValuEngine cut YY from a “buy” rating to a “hold” rating in a research note on Friday, June 29th. Benchmark restated a “buy” rating and issued a $140.00 price objective (down from $168.00) on shares of YY in a research note on Tuesday, August 14th. Jefferies Financial Group restated a “buy” rating and issued a $110.00 price objective on shares of YY in a research note on Wednesday, August 15th. Finally, CLSA set a $125.00 price objective on YY and gave the stock a “buy” rating in a research note on Tuesday, September 25th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $133.29.
YY (NASDAQ:YY) last announced its quarterly earnings data on Monday, August 13th. The information services provider reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.22. The firm had revenue of $570.20 million during the quarter, compared to analysts’ expectations of $544.76 million. YY had a return on equity of 22.08% and a net margin of 14.99%. The company’s revenue for the quarter was up 48.1% compared to the same quarter last year. During the same period last year, the business posted $1.53 earnings per share. As a group, research analysts anticipate that YY Inc will post 7.1 EPS for the current year.
YY Inc, through its subsidiaries, engages in the live streaming business in the People's Republic of China. The company operates YY Live platform, an online music and entertainment live streaming service; and Huya platform, a live streaming platform, including online games, console games, mobile games, entertainments, sports, etc.
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