Prudential Financial Inc. trimmed its holdings in shares of YY Inc. (NASDAQ:YY) by 24.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 546,950 shares of the information services provider’s stock after selling 177,100 shares during the period. Prudential Financial Inc. owned about 0.98% of YY worth $47,464,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of YY. State of Wisconsin Investment Board raised its stake in shares of YY by 46.6% during the third quarter. State of Wisconsin Investment Board now owns 90,760 shares of the information services provider’s stock valued at $7,876,000 after acquiring an additional 28,845 shares during the last quarter. Dupont Capital Management Corp bought a new position in shares of YY during the third quarter valued at about $3,853,000. Andra AP fonden raised its stake in shares of YY by 89.9% during the third quarter. Andra AP fonden now owns 74,254 shares of the information services provider’s stock valued at $6,444,000 after acquiring an additional 35,154 shares during the last quarter. Essex Investment Management Co. LLC bought a new position in shares of YY during the third quarter valued at about $1,294,000. Finally, Westpac Banking Corp bought a new position in shares of YY during the third quarter valued at about $1,105,000. Institutional investors and hedge funds own 56.53% of the company’s stock.
Shares of YY Inc. (NASDAQ:YY) opened at $88.90 on Friday. The firm has a market cap of $4,983.29, a PE ratio of 16.77, a price-to-earnings-growth ratio of 0.97 and a beta of 1.17. YY Inc. has a fifty-two week low of $37.81 and a fifty-two week high of $97.59.
YY (NASDAQ:YY) last announced its quarterly earnings data on Thursday, August 10th. The information services provider reported $1.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.19. The business had revenue of $384.85 million for the quarter, compared to analysts’ expectations of $366.35 million. YY had a net margin of 22.08% and a return on equity of 39.07%. The business’s revenue was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 earnings per share. analysts forecast that YY Inc. will post 5.76 earnings per share for the current fiscal year.
YY has been the subject of a number of research reports. Goldman Sachs Group, Inc. (The) initiated coverage on shares of YY in a research note on Wednesday, August 30th. They issued a “buy” rating and a $101.00 price target for the company. BidaskClub downgraded shares of YY from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 30th. Deutsche Bank AG reissued a “buy” rating and issued a $100.00 price target (up from $69.00) on shares of YY in a research note on Friday, August 11th. HSBC Holdings plc reissued a “buy” rating and issued a $89.00 price target (up from $65.00) on shares of YY in a research note on Friday, August 11th. Finally, Citigroup Inc. increased their price target on shares of YY to $100.00 and gave the stock a “buy” rating in a research note on Friday, August 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. YY has an average rating of “Buy” and a consensus target price of $74.82.
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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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