Boston Partners Raises Stake in YY Inc. (YY)
Boston Partners raised its position in YY Inc. (NASDAQ:YY) by 19.7% during the second quarter, Holdings Channel reports. The firm owned 1,575,753 shares of the information services provider’s stock after buying an additional 258,815 shares during the period. Boston Partners’ holdings in YY were worth $91,441,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in YY by 8.5% in the first quarter. Bank of New York Mellon Corp now owns 39,241 shares of the information services provider’s stock worth $1,809,000 after buying an additional 3,062 shares during the period. Capital Fund Management S.A. raised its stake in YY by 2,079.9% in the first quarter. Capital Fund Management S.A. now owns 143,873 shares of the information services provider’s stock worth $6,634,000 after buying an additional 137,273 shares during the period. DekaBank Deutsche Girozentrale raised its stake in YY by 770.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 6,439 shares of the information services provider’s stock worth $535,000 after buying an additional 5,699 shares during the period. Advisors Asset Management Inc. raised its stake in YY by 78.3% in the first quarter. Advisors Asset Management Inc. now owns 11,224 shares of the information services provider’s stock worth $518,000 after buying an additional 4,928 shares during the period. Finally, First Trust Advisors LP raised its stake in YY by 37.3% in the first quarter. First Trust Advisors LP now owns 29,140 shares of the information services provider’s stock worth $1,344,000 after buying an additional 7,918 shares during the period. Institutional investors own 48.86% of the company’s stock.
YY Inc. (YY) opened at 78.92 on Friday. YY Inc. has a 52-week low of $37.81 and a 52-week high of $83.00.
YY (NASDAQ:YY) last posted its quarterly earnings results on Thursday, August 10th. The information services provider reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.19. The firm had revenue of $384.85 million for the quarter, compared to analysts’ expectations of $366.35 million. YY had a net margin of 22.08% and a return on equity of 41.38%. The firm’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 earnings per share. Analysts predict that YY Inc. will post $5.66 earnings per share for the current year.
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A number of equities research analysts have recently weighed in on the stock. Citigroup Inc. raised their price objective on shares of YY to $100.00 and gave the company a “buy” rating in a report on Friday. HSBC Holdings plc restated a “buy” rating on shares of YY in a report on Friday. Deutsche Bank AG restated a “buy” rating and issued a $100.00 price objective (up from $69.00) on shares of YY in a report on Friday. ValuEngine lowered shares of YY from a “strong-buy” rating to a “buy” rating in a report on Monday, August 7th. Finally, BidaskClub upgraded shares of YY from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $63.34.
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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