WCM Investment Management CA decreased its holdings in YY Inc (NASDAQ:YY) by 3.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,008 shares of the information services provider’s stock after selling 805 shares during the quarter. WCM Investment Management CA’s holdings in YY were worth $2,513,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Wells Fargo & Company MN increased its holdings in shares of YY by 588.0% in the 1st quarter. Wells Fargo & Company MN now owns 95,614 shares of the information services provider’s stock valued at $10,058,000 after acquiring an additional 81,717 shares during the period. Victory Capital Management Inc. increased its holdings in shares of YY by 6.0% in the 1st quarter. Victory Capital Management Inc. now owns 43,340 shares of the information services provider’s stock valued at $4,559,000 after acquiring an additional 2,450 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of YY in the 1st quarter valued at $1,504,000. Swiss National Bank increased its holdings in shares of YY by 6.6% in the 1st quarter. Swiss National Bank now owns 90,562 shares of the information services provider’s stock valued at $9,527,000 after acquiring an additional 5,600 shares during the period. Finally, Schwab Charles Investment Management Inc. acquired a new position in shares of YY in the 1st quarter valued at $3,269,000. Institutional investors own 61.30% of the company’s stock.
YY has been the topic of several recent research reports. BidaskClub cut shares of YY from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 8th. ValuEngine cut shares of YY from a “sell” rating to a “strong sell” rating in a research note on Friday, September 7th. Benchmark reissued a “buy” rating and issued a $140.00 price objective (down from $168.00) on shares of YY in a research note on Tuesday, August 14th. Zacks Investment Research raised shares of YY from a “sell” rating to a “strong-buy” rating and set a $131.00 price objective on the stock in a research note on Friday, June 15th. Finally, CLSA set a $125.00 price objective on shares of YY and gave the company a “buy” rating in a research note on Tuesday, September 25th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $139.59.
Shares of YY stock traded up $4.99 on Friday, hitting $73.02. The company’s stock had a trading volume of 1,409,326 shares, compared to its average volume of 1,539,595. YY Inc has a 52-week low of $66.46 and a 52-week high of $142.97. The firm has a market capitalization of $4.73 billion, a PE ratio of 11.50, a P/E/G ratio of 0.48 and a beta of 0.72.
YY (NASDAQ:YY) last released its quarterly earnings data on Monday, August 13th. The information services provider reported $2.03 EPS for the quarter, topping the consensus estimate of $1.81 by $0.22. The business had revenue of $570.20 million for the quarter, compared to analyst estimates of $544.76 million. YY had a net margin of 14.99% and a return on equity of 22.08%. The business’s revenue for the quarter was up 48.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.53 EPS. As a group, research analysts forecast that YY Inc will post 6.95 earnings per share for the current fiscal year.
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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