Connable Office Inc. Invests $895,000 in Yandex N.V. (YNDX)
Connable Office Inc. purchased a new stake in Yandex N.V. (NASDAQ:YNDX) during the second quarter, Holdings Channel reports. The institutional investor purchased 34,090 shares of the information services provider’s stock, valued at approximately $895,000.
Other institutional investors have also bought and sold shares of the company. Shine Investment Advisory Services Inc. acquired a new position in Yandex N.V. during the second quarter valued at approximately $110,000. Invictus RG acquired a new position in Yandex N.V. during the first quarter valued at approximately $166,000. Comerica Bank acquired a new position in Yandex N.V. during the first quarter valued at approximately $249,000. Nine Chapters Capital Management LLC acquired a new position in Yandex N.V. during the first quarter valued at approximately $202,000. Finally, Harbor Advisors LLC acquired a new position in Yandex N.V. during the first quarter valued at approximately $219,000. Institutional investors and hedge funds own 70.42% of the company’s stock.
Shares of Yandex N.V. (NASDAQ YNDX) opened at 30.69 on Thursday. The stock has a market capitalization of $9.97 billion, a PE ratio of 38.90 and a beta of 2.86. Yandex N.V. has a 12 month low of $17.28 and a 12 month high of $32.44. The company has a 50-day moving average of $28.91 and a 200-day moving average of $25.69.
Yandex N.V. (NASDAQ:YNDX) last released its quarterly earnings results on Friday, July 28th. The information services provider reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.03. The firm had revenue of $374.10 million for the quarter. Yandex N.V. had a net margin of 9.50% and a return on equity of 15.51%. The company’s quarterly revenue was up 22.5% on a year-over-year basis. During the same period last year, the firm posted $12.05 earnings per share. On average, equities research analysts expect that Yandex N.V. will post $0.77 EPS for the current fiscal year.
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A number of brokerages recently commented on YNDX. VTB Capital upgraded shares of Yandex N.V. from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Thursday, August 3rd. TheStreet upgraded shares of Yandex N.V. from a “c-” rating to a “b-” rating in a research note on Friday, July 28th. Credit Suisse Group boosted their target price on shares of Yandex N.V. from $32.00 to $37.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 25th. They noted that the move was a valuation call. Renaissance Capital reiterated a “sell” rating and set a $24.30 target price (up previously from $17.20) on shares of Yandex N.V. in a research note on Friday, July 14th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $37.30 target price on shares of Yandex N.V. in a research note on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $31.92.
About Yandex N.V.
Yandex N.V. is an Internet and technology company, and operates Internet search engine. The Company’s segments include Search and Portal, E-commerce, Taxi, Classifieds and Experimental businesses. The Company’s Search and Portal segment offers a range of services in Russia, Ukraine, Belarus and Kazakhstan, among which are search, location-based, personalized and mobile services, that enable the Company’s users to find relevant and objective information to communicate and connect over the Internet, from both their desktops and mobile devices.
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