JPMorgan Chase & Co. Decreases Holdings in YY Inc. (YY)
JPMorgan Chase & Co. lowered its stake in shares of YY Inc. (NASDAQ:YY) by 98.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,809 shares of the information services provider’s stock after selling 3,911,556 shares during the period. JPMorgan Chase & Co. owned about 0.13% of YY worth $4,051,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the business. Advisors Preferred LLC bought a new position in shares of YY during the 2nd quarter valued at $145,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in 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 worth $167,000 after acquiring an additional 200 shares during the period. Aviva PLC raised its holdings in YY by 3.8% in the 2nd quarter. Aviva PLC now owns 5,500 shares of the information services provider’s stock worth $319,000 after acquiring an additional 200 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in YY in the 1st quarter worth $277,000. Finally, Tudor Investment Corp ET AL bought a new position in YY in the 1st quarter worth $280,000. 55.03% of the stock is owned by institutional investors.
TRADEMARK VIOLATION WARNING: This piece of content was first reported by Watch List News and is the sole property of of Watch List News. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark law. The correct version of this piece of content can be read at https://www.watchlistnews.com/jpmorgan-chase-co-decreases-holdings-in-yy-inc-yy/1618932.html.
Shares of YY Inc. (NASDAQ:YY) opened at 88.74 on Monday. YY Inc. has a 52-week low of $37.81 and a 52-week high of $94.00.
YY (NASDAQ:YY) last issued its earnings results on Thursday, August 10th. The information services provider reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.19. The business had revenue of $384.85 million during the quarter, compared to analyst estimates of $366.35 million. YY had a return on equity of 39.07% and a net margin of 22.08%. YY’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 earnings per share. On average, analysts forecast that YY Inc. will post $6.09 EPS for the current year.
Several research firms have issued reports on YY. Goldman Sachs Group, Inc. (The) began coverage on shares of YY in a research report on Wednesday, August 30th. They issued a “buy” rating and a $101.00 price target on the stock. BidaskClub lowered shares of YY from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 30th. Deutsche Bank AG reiterated a “buy” rating and set a $100.00 target price (up from $69.00) on shares of YY in a research report on Friday, August 11th. HSBC Holdings plc restated a “buy” rating and issued a $89.00 price target (up from $65.00) on shares of YY in a research report on Friday, August 11th. Finally, Citigroup Inc. boosted their price target 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 assigned a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. YY currently has an average rating of “Buy” and an average target price 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.
Receive News & Ratings for YY Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for YY Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.