Yandex (NASDAQ:YNDX) Sees Large Decline in Short Interest

Yandex (NASDAQ:YNDX) was the target of a significant decline in short interest in April. As of April 15th, there was short interest totalling 6,440,000 shares, a decline of 20.0% from the March 31st total of 8,050,000 shares. Based on an average trading volume of 2,100,000 shares, the short-interest ratio is presently 3.1 days.

Several equities analysts have commented on YNDX shares. Morgan Stanley upgraded shares of Yandex from an “equal weight” rating to an “overweight” rating and set a $75.00 price target for the company in a research note on Monday, March 8th. TheStreet downgraded shares of Yandex from a “b” rating to a “c+” rating in a research note on Friday, February 19th. New Street Research assumed coverage on shares of Yandex in a research note on Tuesday, April 13th. They set a “buy” rating and a $81.00 target price for the company. Finally, Renaissance Capital upgraded shares of Yandex from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a research note on Tuesday, February 9th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Yandex currently has an average rating of “Buy” and a consensus target price of $70.63.

Shares of YNDX opened at $64.22 on Wednesday. Yandex has a 1-year low of $37.47 and a 1-year high of $74.32. The stock has a market cap of $22.75 billion, a PE ratio of 188.88, a price-to-earnings-growth ratio of 4.05 and a beta of 1.62. The company has a debt-to-equity ratio of 0.26, a current ratio of 6.68 and a quick ratio of 6.68. The firm has a fifty day moving average price of $63.69 and a 200 day moving average price of $65.35.

Yandex (NASDAQ:YNDX) last announced its quarterly earnings results on Tuesday, February 16th. The information services provider reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.27. Yandex had a net margin of 4.24% and a return on equity of 8.62%. The firm had revenue of $969.20 million during the quarter. As a group, equities analysts expect that Yandex will post 0.55 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Henry James International Management Inc. lifted its position in Yandex by 0.6% in the first quarter. Henry James International Management Inc. now owns 31,326 shares of the information services provider’s stock valued at $2,007,000 after acquiring an additional 172 shares during the last quarter. Huntington National Bank raised its holdings in shares of Yandex by 37.0% in the fourth quarter. Huntington National Bank now owns 740 shares of the information services provider’s stock valued at $51,000 after buying an additional 200 shares during the last quarter. Prelude Capital Management LLC raised its holdings in shares of Yandex by 3.6% in the fourth quarter. Prelude Capital Management LLC now owns 6,399 shares of the information services provider’s stock valued at $445,000 after buying an additional 221 shares during the last quarter. Pinnacle Associates Ltd. raised its holdings in shares of Yandex by 1.7% in the fourth quarter. Pinnacle Associates Ltd. now owns 15,548 shares of the information services provider’s stock valued at $1,082,000 after buying an additional 265 shares during the last quarter. Finally, Sowell Financial Services LLC raised its holdings in shares of Yandex by 36.3% in the fourth quarter. Sowell Financial Services LLC now owns 1,146 shares of the information services provider’s stock valued at $80,000 after buying an additional 305 shares during the last quarter. 76.52% of the stock is owned by hedge funds and other institutional investors.

About Yandex

Yandex N.V., an internet and technology company, provides internet search engine in Russia and internationally. It offers geolocation services, such as Yandex.Maps, Yandex.Navigator, Yandex.Auto, and Yandex.Routing; Yandex.Mail services; Yandex.Disk, a cloud-based storage service; Yandex.Telemost, a video conferencing service; Yandex.Calendar and and Yandex.Notes offers correspondence, time tracking, document management, and conferencing services; Yandex.News, an online news aggregation service; Yandex.Weather hyperlocal weather information services; Yandex Browser for desktops and mobile platforms; and Yandex Search Apps.

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