Fullerton Fund Management Co Ltd acquired a new stake in YY Inc (NASDAQ:YY) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 8,389 shares of the information services provider’s stock, valued at approximately $629,000. YY comprises about 0.3% of Fullerton Fund Management Co Ltd’s investment portfolio, making the stock its 26th biggest position.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Nomura Holdings Inc. raised its holdings in YY by 10.2% during the second quarter. Nomura Holdings Inc. now owns 9,643 shares of the information services provider’s stock worth $969,000 after buying an additional 895 shares during the last quarter. Platinum Investment Management Ltd. bought a new position in YY during the second quarter worth about $53,436,000. Ruffer LLP bought a new position in YY during the third quarter worth about $4,682,000. Massachusetts Financial Services Co. MA boosted its position in shares of YY by 48.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 21,231 shares of the information services provider’s stock valued at $2,133,000 after acquiring an additional 6,930 shares during the period. Finally, Raymond James & Associates boosted its position in shares of YY by 9.2% in the second quarter. Raymond James & Associates now owns 27,399 shares of the information services provider’s stock valued at $2,753,000 after acquiring an additional 2,312 shares during the period. 57.45% of the stock is currently owned by institutional investors and hedge funds.
YY stock opened at $65.97 on Thursday. YY Inc has a twelve month low of $56.65 and a twelve month high of $142.97. The firm has a market capitalization of $4.17 billion, a price-to-earnings ratio of 10.39, a price-to-earnings-growth ratio of 0.44 and a beta of 0.89.
YY (NASDAQ:YY) last announced its quarterly earnings results on Monday, November 12th. The information services provider reported $1.76 EPS for the quarter, beating the consensus estimate of $1.73 by $0.03. The firm had revenue of $597.00 million for the quarter, compared to analyst estimates of $577.38 million. YY had a return on equity of 19.64% and a net margin of 14.07%. During the same quarter last year, the firm posted $1.59 earnings per share. As a group, sell-side analysts expect that YY Inc will post 6.57 EPS for the current year.
Several research analysts have commented on YY shares. Benchmark reissued a “buy” rating and set a $140.00 price target (down from $168.00) on shares of YY in a research note on Tuesday, August 14th. ValuEngine downgraded shares of YY from a “sell” rating to a “strong sell” rating in a research note on Friday, September 7th. Jefferies Financial Group reiterated a “buy” rating and issued a $110.00 price target on shares of YY in a report on Wednesday, August 15th. BidaskClub upgraded shares of YY from a “strong sell” rating to a “sell” rating in a report on Saturday, September 22nd. Finally, CLSA set a $125.00 target price on shares of YY and gave the company a “buy” rating in a report on Tuesday, September 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $121.19.
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YY Company Profile
YY Inc, through its subsidiaries, engages in the live streaming business in the People's Republic of China. The company operates YY Live platform, an online music and entertainment live streaming service; and Huya platform, a live streaming platform, including online games, console games, mobile games, entertainments, sports, etc.
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