First Trust Advisors LP cut its stake in YY Inc. (NASDAQ:YY) by 48.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 28,740 shares of the company’s stock after selling 27,355 shares during the period. First Trust Advisors LP owned about 0.05% of YY worth $973,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Aperio Group LLC boosted its stake in shares of YY by 59.4% in the first quarter. Aperio Group LLC now owns 21,160 shares of the company’s stock worth $1,303,000 after buying an additional 7,888 shares during the period. BlackRock Inc. boosted its stake in shares of YY by 13.0% in the first quarter. BlackRock Inc. now owns 19,491 shares of the company’s stock worth $1,200,000 after buying an additional 2,244 shares during the period. Tobam purchased a new stake in shares of YY during the first quarter worth approximately $392,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of YY during the first quarter worth approximately $511,000. Finally, Pictet Asset Management Ltd. boosted its stake in shares of YY by 10.2% in the first quarter. Pictet Asset Management Ltd. now owns 32,338 shares of the company’s stock worth $1,683,000 after buying an additional 3,000 shares during the period. 32.80% of the stock is currently owned by institutional investors.
YY Inc. (NASDAQ:YY) traded down 0.815% during midday trading on Thursday, hitting $55.345. 346,446 shares of the company were exchanged. YY Inc. has a 1-year low of $31.07 and a 1-year high of $65.53. The stock has a 50 day moving average of $51.90 and a 200 day moving average of $48.65. The firm has a market capitalization of $3.05 billion, a PE ratio of 19.844 and a beta of 1.17.
YY (NASDAQ:YY) last issued its earnings results on Wednesday, August 17th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.29. YY had a net margin of 15.17% and a return on equity of 30.67%. On average, equities analysts predict that YY Inc. will post $3.34 earnings per share for the current fiscal year.
YY has been the topic of several research reports. Credit Suisse Group AG initiated coverage on shares of YY in a report on Wednesday, September 14th. They set an “outperform” rating and a $64.00 price objective on the stock. TheStreet lowered shares of YY from a “buy” rating to a “hold” rating in a report on Thursday, June 9th. Zacks Investment Research upgraded shares of YY from a “sell” rating to a “hold” rating in a report on Thursday, September 8th. Finally, JPMorgan Chase & Co. initiated coverage on shares of YY in a report on Wednesday, August 31st. They set an “overweight” rating and a $62.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $63.25.
YY Inc (YY) is a social platform that engages users in real-time online group activities through voice, video and text on personal computers and mobile devices. The Company’s segments include YY IVAS and others, Huya broadcasting, and 100 Education. YY enables users to create and organize groups of varying sizes to discover and participate in a range of online activities, including music shows, online games, dating shows, live game broadcasting and e-learning.
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