Boothbay Fund Management LLC Purchases Shares of 2,686 YY Inc (YY)
Boothbay Fund Management LLC purchased a new stake in shares of YY Inc (NASDAQ:YY) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,686 shares of the information services provider’s stock, valued at approximately $233,000.
Other large investors have also recently bought and sold shares of the company. BlackRock Inc. increased its position in YY by 51.6% during the 2nd quarter. BlackRock Inc. now owns 1,980,784 shares of the information services provider’s stock valued at $114,945,000 after purchasing an additional 674,292 shares during the period. FMR LLC increased its position in YY by 9,789.6% during the 2nd quarter. FMR LLC now owns 662,600 shares of the information services provider’s stock valued at $38,451,000 after purchasing an additional 655,900 shares during the period. Origin Asset Management LLP purchased a new position in YY during the 2nd quarter valued at $34,470,000. Prudential Financial Inc. increased its position in YY by 286.8% during the 2nd quarter. Prudential Financial Inc. now owns 724,050 shares of the information services provider’s stock valued at $42,017,000 after purchasing an additional 536,850 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in YY during the 2nd quarter valued at $25,797,000. Institutional investors own 57.15% of the company’s stock.
A number of research firms have recently weighed in on YY. Jefferies Group raised shares of YY from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Wednesday, November 15th. Vetr downgraded shares of YY from a “buy” rating to a “sell” rating and set a $100.74 target price on the stock. in a research report on Wednesday, November 15th. Zacks Investment Research downgraded shares of YY from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 17th. J P Morgan Chase & Co raised shares of YY from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $70.00 to $140.00 in a research report on Thursday, November 16th. Finally, BidaskClub downgraded shares of YY from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. YY has a consensus rating of “Buy” and a consensus target price of $85.45.
YY (NASDAQ:YY) last issued its quarterly earnings data on Tuesday, November 14th. The information services provider reported $1.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.54 by $0.05. YY had a net margin of 20.38% and a return on equity of 31.96%. The firm had revenue of $464.78 million for the quarter, compared to analysts’ expectations of $425.44 million. During the same quarter in the prior year, the business earned $1.08 EPS. The business’s quarterly revenue was up 53.4% on a year-over-year basis. equities analysts forecast that YY Inc will post 5.76 earnings per share for the current year.
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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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