Cetera Advisor Networks LLC Takes $203,000 Position in YY Inc (YY)
Cetera Advisor Networks LLC acquired a new position in shares of YY Inc (NASDAQ:YY) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,340 shares of the information services provider’s stock, valued at approximately $203,000.
A number of other large investors have also recently made changes to their positions in the business. Huntington National Bank increased its stake in shares of YY by 93.6% in the 3rd quarter. Huntington National Bank now owns 1,218 shares of the information services provider’s stock valued at $106,000 after acquiring an additional 589 shares during the last quarter. D.A. Davidson & CO. grew its position in shares of YY by 17.4% in the 2nd quarter. D.A. Davidson & CO. now owns 2,700 shares of the information services provider’s stock valued at $156,000 after purchasing an additional 400 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of 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 valued at $167,000 after purchasing an additional 200 shares during the period. Candriam Luxembourg S.C.A. acquired a new position in shares of YY in the 3rd quarter valued at approximately $208,000. Finally, Boothbay Fund Management LLC acquired a new position in shares of YY in the 3rd quarter valued at approximately $233,000. 57.15% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on YY shares. Goldman Sachs Group started coverage on YY in a research report on Wednesday, August 30th. They set a “buy” rating and a $101.00 price target for the company. J P Morgan Chase & Co raised YY from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $70.00 to $140.00 in a research report on Thursday, November 16th. BidaskClub downgraded YY from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 27th. Jefferies Group raised YY from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Wednesday, November 15th. Finally, Vetr downgraded YY from a “buy” rating to a “sell” rating and set a $100.74 price objective for the company. in a report on Wednesday, November 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $85.63.
Shares of YY Inc (NASDAQ:YY) opened at $108.54 on Friday. YY Inc has a 12 month low of $37.81 and a 12 month high of $123.48. The firm has a market capitalization of $6,860.00, a price-to-earnings ratio of 18.48, a P/E/G ratio of 1.00 and a beta of 1.20.
YY (NASDAQ:YY) last posted its quarterly earnings data on Tuesday, November 14th. The information services provider reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.05. The firm had revenue of $464.78 million for the quarter, compared to analysts’ expectations of $425.44 million. YY had a return on equity of 34.26% and a net margin of 22.23%. The company’s quarterly revenue was up 53.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.08 EPS.
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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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