Cornerstone Capital Management Holdings LLC. Buys 388,000 Shares of YY Inc. (YY)
Cornerstone Capital Management Holdings LLC. boosted its stake in shares of YY Inc. (NASDAQ:YY) by 60.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,032,000 shares of the information services provider’s stock after purchasing an additional 388,000 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in YY were worth $59,886,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Advisors Preferred LLC acquired a new position in YY during the second quarter valued at approximately $145,000. D.A. Davidson & CO. raised its stake in YY by 17.4% in the second quarter. D.A. Davidson & CO. now owns 2,700 shares of the information services provider’s stock valued at $156,000 after buying an additional 400 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in YY by 7.5% in the second 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 buying an additional 200 shares during the period. Profund Advisors LLC bought a new stake in YY in the second quarter valued at approximately $240,000. Finally, Voya Investment Management LLC bought a new stake in YY in the second quarter valued at approximately $268,000. 55.03% of the stock is owned by hedge funds and other institutional investors.
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Shares of YY Inc. (YY) traded up 0.42% during trading on Thursday, hitting $89.14. The stock had a trading volume of 492,722 shares. YY Inc. has a 52 week low of $37.81 and a 52 week high of $94.00.
YY (NASDAQ:YY) last posted its quarterly earnings results on Thursday, August 10th. The information services provider reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.19. The company 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 39.07%. YY’s revenue was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 EPS. Analysts expect that YY Inc. will post $6.10 earnings per share for the current fiscal year.
Several research firms have issued reports on YY. ValuEngine lowered YY from a “strong-buy” rating to a “buy” rating in a research note on Monday. Bank of America Corporation upped their price objective on YY from $89.00 to $101.00 and gave the company a “buy” rating in a research note on Monday. Vetr upgraded YY from a “hold” rating to a “buy” rating and set a $85.06 price objective on the stock in a research note on Tuesday, September 26th. BidaskClub upgraded YY from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 9th. Finally, Goldman Sachs Group, Inc. (The) began coverage on YY in a research note on Wednesday, August 30th. They issued a “buy” rating and a $101.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. YY presently has an average rating of “Buy” and an average price target of $74.25.
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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