Franklin Resources Inc. Invests $313,000 in YY Inc. (YY)
Franklin Resources Inc. purchased a new position in YY Inc. (NASDAQ:YY) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,400 shares of the information services provider’s stock, valued at approximately $313,000.
Several other hedge funds also recently made changes to their positions in YY. Acadian Asset Management LLC grew 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 valued at $78,808,000 after buying an additional 666,481 shares during the period. Prudential Financial Inc. grew 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 valued at $42,017,000 after buying an additional 536,850 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new stake in YY during the second quarter valued at approximately $25,797,000. Wellington Management Group LLP grew its position in YY by 384.4% during the first quarter. Wellington Management Group LLP now owns 543,305 shares of the information services provider’s stock valued at $25,052,000 after buying an additional 431,155 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in YY by 107.9% during the first quarter. Goldman Sachs Group Inc. now owns 583,091 shares of the information services provider’s stock valued at $26,886,000 after buying an additional 302,599 shares during the period. Hedge funds and other institutional investors own 55.03% of the company’s stock.
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Several analysts recently issued reports on the stock. Vetr upgraded shares of YY from a “hold” rating to a “buy” rating and set a $85.06 target price for the company in a research report on Tuesday, September 26th. Jefferies Group LLC restated a “hold” rating and set a $79.00 target price on shares of YY in a research report on Wednesday, August 16th. BidaskClub lowered shares of YY from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 30th. Zacks Investment Research lowered shares of YY from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, Citigroup Inc. boosted their target price on shares of YY to $100.00 and gave the company a “buy” rating in a research report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $74.25.
YY Inc. (YY) opened at 88.77 on Thursday. YY Inc. has a one year low of $37.81 and a one year high of $94.00.
YY (NASDAQ:YY) last issued its quarterly earnings data 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 business 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%. The business’s revenue was up 28.9% on a year-over-year basis. During the same quarter last year, the company earned $0.90 EPS. On average, equities research analysts forecast that YY Inc. will post $6.10 earnings per share for the current year.
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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