Oppenheimer & Co. Inc. purchased a new position in shares of YY (NASDAQ:YY) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,228 shares of the information services provider’s stock, valued at approximately $340,000.
Other hedge funds have also modified their holdings of the company. Hikari Tsushin Inc. acquired a new position in shares of YY in the fourth quarter valued at $106,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of YY in the first quarter valued at $168,000. Financial Gravity Companies Inc. acquired a new position in shares of YY in the fourth quarter valued at $174,000. Sawtooth Solutions LLC acquired a new position in shares of YY in the fourth quarter valued at $203,000. Finally, Cornerstone Wealth Management LLC acquired a new position in shares of YY in the fourth quarter valued at $221,000. Institutional investors own 59.46% of the company’s stock.
YY stock opened at $104.72 on Thursday. The firm has a market cap of $6.67 billion, a price-to-earnings ratio of 16.49, a P/E/G ratio of 0.65 and a beta of 1.63. YY has a 52-week low of $103.57 and a 52-week high of $105.83.
YY (NASDAQ:YY) last announced its earnings results on Monday, March 5th. The information services provider reported $1.77 EPS for the quarter, topping the consensus estimate of $1.74 by $0.03. The company had revenue of $557.39 million for the quarter, compared to analysts’ expectations of $543.33 million. YY had a return on equity of 29.96% and a net margin of 21.48%. equities analysts anticipate that YY will post 7.19 EPS for the current fiscal year.
YY has been the subject of a number of recent research reports. Jefferies Group upped their target price on YY from $158.00 to $164.00 and gave the company a “buy” rating in a research note on Tuesday, March 6th. ValuEngine upgraded YY from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Vetr lowered YY from a “strong-buy” rating to a “buy” rating and set a $147.88 price objective for the company. in a research note on Thursday, February 22nd. Citigroup initiated coverage on YY in a research note on Tuesday, February 20th. They set a “buy” rating and a $150.00 price objective for the company. Finally, Zacks Investment Research upgraded YY from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research note on Saturday, February 10th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $132.99.
YY Inc, through its subsidiaries, operates a live streaming platform in the People's Republic of China. It engages users to interact in live online group activities through voice, text, and video, as well as to create and organize groups of various 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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