HighTower Advisors LLC bought a new stake in YY Inc. (NASDAQ:YY) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 37,615 shares of the information services provider’s stock, valued at approximately $2,190,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of YY by 51.6% in the second quarter. BlackRock Inc. now owns 1,980,784 shares of the information services provider’s stock valued at $114,945,000 after acquiring an additional 674,292 shares in the last quarter. Boston Partners lifted its position in YY by 19.7% during the second quarter. Boston Partners now owns 1,575,753 shares of the information services provider’s stock worth $91,441,000 after buying an additional 258,815 shares in the last quarter. Acadian Asset Management LLC lifted its position in YY by 96.4% during the second quarter. Acadian Asset Management LLC now owns 1,358,113 shares of the information services provider’s stock worth $78,808,000 after buying an additional 666,481 shares in the last quarter. Prudential Financial Inc. lifted its position in YY by 286.8% during the second quarter. Prudential Financial Inc. now owns 724,050 shares of the information services provider’s stock worth $42,017,000 after buying an additional 536,850 shares in the last quarter. Finally, FMR LLC lifted its position in YY by 9,789.6% during the second quarter. FMR LLC now owns 662,600 shares of the information services provider’s stock worth $38,451,000 after buying an additional 655,900 shares in the last quarter. Institutional investors and hedge funds own 55.03% of the company’s stock.

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Shares of YY Inc. (NASDAQ YY) opened at 88.74 on Friday. YY Inc. has a 52 week low of $37.81 and a 52 week high of $94.00.

YY (NASDAQ:YY) last issued its earnings results on Thursday, August 10th. The information services provider reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.19. The business had revenue of $384.85 million for the quarter, compared to analyst estimates of $366.35 million. YY had a return on equity of 39.07% and a net margin of 22.08%. The business’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period last year, the company posted $0.90 EPS. Equities research analysts predict that YY Inc. will post $6.09 earnings per share for the current fiscal year.

YY has been the topic of a number of analyst reports. Jefferies Group LLC reiterated a “hold” rating and set a $56.00 price objective on shares of YY in a research report on Friday, June 16th. Deutsche Bank AG reiterated a “buy” rating and set a $100.00 price objective (up previously from $69.00) on shares of YY in a research report on Friday, August 11th. Zacks Investment Research upgraded YY from a “hold” rating to a “strong-buy” rating and set a $85.00 price objective on the stock in a research report on Friday, August 25th. Vetr downgraded YY from a “buy” rating to a “hold” rating and set a $82.17 price objective on the stock. in a research report on Monday, September 25th. Finally, ValuEngine downgraded YY from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $74.25.

About YY

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.

Institutional Ownership by Quarter for YY (NASDAQ:YY)

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