Granite Point Capital Management L.P. boosted its position in YY Inc. (NASDAQ:YY) by 67.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 18,384 shares of the information services provider’s stock after purchasing an additional 7,384 shares during the period. Granite Point Capital Management L.P.’s holdings in YY were worth $1,595,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of YY. Aviva PLC lifted its stake in YY by 3.8% in the 2nd quarter. Aviva PLC now owns 5,500 shares of the information services provider’s stock worth $319,000 after purchasing an additional 200 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in YY by 7.5% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,870 shares of the information services provider’s stock worth $167,000 after acquiring an additional 200 shares during the last quarter. D.A. Davidson & CO. grew its holdings in YY by 17.4% in the 2nd quarter. D.A. Davidson & CO. now owns 2,700 shares of the information services provider’s stock worth $156,000 after acquiring an additional 400 shares during the last quarter. Huntington National Bank grew its holdings in YY by 93.6% in the 3rd quarter. Huntington National Bank now owns 1,218 shares of the information services provider’s stock worth $106,000 after acquiring an additional 589 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in YY by 7.0% in the 2nd quarter. Wells Fargo & Company MN now owns 9,127 shares of the information services provider’s stock worth $529,000 after acquiring an additional 597 shares during the last quarter. 57.15% of the stock is owned by institutional investors and hedge funds.
Shares of YY Inc. (NASDAQ YY) opened at $100.68 on Wednesday. The stock has a market cap of $6,350.02, a P/E ratio of 17.19, a P/E/G ratio of 0.93 and a beta of 1.20. YY Inc. has a 12-month low of $37.81 and a 12-month high of $123.48.
YY (NASDAQ:YY) last announced its earnings results on Tuesday, November 14th. The information services provider reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.05. The company had revenue of $464.78 million during the quarter, compared to analyst estimates of $425.44 million. YY had a net margin of 22.23% and a return on equity of 34.26%. The firm’s quarterly revenue was up 53.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.08 earnings per share. equities analysts forecast that YY Inc. will post 5.76 EPS for the current fiscal year.
YY has been the topic of a number of recent analyst reports. Citigroup raised their price target on shares of YY to $100.00 and gave the stock a “buy” rating in a report on Friday, August 11th. reiterated 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. Deutsche Bank reiterated 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. Jefferies Group reiterated a “hold” rating and issued a $79.00 price target on shares of YY in a research note on Wednesday, August 16th. Finally, Zacks Investment Research upgraded shares of YY from a “hold” rating to a “strong-buy” rating and set a $85.00 price target for the company in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $83.11.
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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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