Bank of New York Mellon Corp raised its position in YY Inc. (NASDAQ:YY) by 62.2% during the second quarter, Holdings Channel reports. The fund owned 28,442 shares of the company’s stock after buying an additional 10,907 shares during the period. Bank of New York Mellon Corp owned about 0.05% of YY worth $964,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the company. Value Partners Ltd. ADV purchased a new position in shares of YY during the first quarter worth approximately $10,686,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of YY by 298.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 85,794 shares of the company’s stock worth $2,906,000 after buying an additional 64,264 shares during the last quarter. First Manhattan Co. purchased a new position in shares of YY during the second quarter worth approximately $1,693,000. NINE MASTS CAPITAL Ltd boosted its position in shares of YY by 135.3% in the first quarter. NINE MASTS CAPITAL Ltd now owns 73,636 shares of the company’s stock worth $4,535,000 after buying an additional 42,336 shares during the last quarter. Finally, Shell Asset Management Co. boosted its position in shares of YY by 108.3% in the second quarter. Shell Asset Management Co. now owns 50,743 shares of the company’s stock worth $1,719,000 after buying an additional 26,379 shares during the last quarter. 32.80% of the stock is owned by institutional investors.
YY Inc. (NASDAQ:YY) traded up 1.97% during midday trading on Friday, hitting $53.35. The stock had a trading volume of 2,399,362 shares. The stock has a 50-day moving average price of $52.90 and a 200 day moving average price of $48.53. YY Inc. has a 12-month low of $31.07 and a 12-month high of $65.53. The firm has a market cap of $2.94 billion, a P/E ratio of 19.15 and a beta of 1.17.
YY (NASDAQ:YY) last released its quarterly earnings results on Wednesday, August 17th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.29. YY had a return on equity of 30.67% and a net margin of 15.17%. On average, equities analysts anticipate that YY Inc. will post $3.34 earnings per share for the current fiscal year.
A number of equities analysts have commented on the company. Zacks Investment Research raised YY from a “sell” rating to a “hold” rating in a report on Thursday, September 8th. JPMorgan Chase & Co. assumed coverage on YY in a report on Wednesday, August 31st. They set an “overweight” rating and a $62.00 target price for the company. Finally, Credit Suisse Group AG assumed coverage on YY in a report on Wednesday, September 14th. They set an “outperform” rating and a $64.00 target price for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus 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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