Pictet Asset Management Ltd. cut its stake in YY Inc (NASDAQ:YY) by 3.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,338 shares of the information services provider’s stock after selling 1,500 shares during the period. Pictet Asset Management Ltd. owned approximately 0.08% of YY worth $2,091,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of YY. Handelsbanken Fonder AB raised its position in YY by 184.2% in the first quarter. Handelsbanken Fonder AB now owns 54,000 shares of the information services provider’s stock valued at $2,490,000 after buying an additional 35,000 shares during the last quarter. Xact Kapitalforvaltning AB raised its position in YY by 26.8% in the first quarter. Xact Kapitalforvaltning AB now owns 10,400 shares of the information services provider’s stock valued at $480,000 after buying an additional 2,200 shares during the last quarter. Renaissance Group LLC bought a new position in YY during the first quarter valued at $385,000. BNP Paribas Arbitrage SA raised its position in YY by 1,014.9% in the first quarter. BNP Paribas Arbitrage SA now owns 82,449 shares of the information services provider’s stock valued at $3,802,000 after buying an additional 75,054 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position 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 valued at $1,809,000 after buying an additional 3,062 shares during the last quarter. Hedge funds and other institutional investors own 47.85% of the company’s stock.
Shares of YY Inc (NASDAQ YY) traded down 0.40% during trading on Friday, reaching $54.91. The company’s stock had a trading volume of 739,736 shares. The firm’s 50-day moving average is $55.28 and its 200-day moving average is $46.95. YY Inc has a 12-month low of $31.07 and a 12-month high of $61.52. The stock has a market capitalization of $3.06 billion, a PE ratio of 11.97 and a beta of 1.12.
YY (NASDAQ:YY) last announced its quarterly earnings data on Tuesday, March 14th. The information services provider reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.44. YY had a return on equity of 40.72% and a net margin of 23.66%. The firm had revenue of $357.79 million during the quarter, compared to analysts’ expectations of $354.96 million. Equities analysts expect that YY Inc will post $5.30 earnings per share for the current year.
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Several equities analysts recently weighed in on the stock. CICC Research lowered shares of YY to a “hold” rating and set a $60.00 price target for the company. in a research report on Thursday, May 11th. Zacks Investment Research lowered shares of YY from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 17th. Jefferies Group LLC reiterated a “hold” rating and set a $56.00 target price (up previously from $46.00) on shares of YY in a research report on Sunday, May 14th. J P Morgan Chase & Co lowered shares of YY from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $56.00 to $60.00 in a research report on Thursday, May 11th. Finally, BidaskClub lowered shares of YY from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $57.83.
YY Company Profile
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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