Renaissance Group LLC raised its position in YY Inc. (NASDAQ:YY) by 8.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 9,048 shares of the information services provider’s stock after buying an additional 708 shares during the period. Renaissance Group LLC’s holdings in YY were worth $525,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Macquarie Group Ltd. boosted its stake in YY by 2,042.1% in the fourth quarter. Macquarie Group Ltd. now owns 36,502 shares of the information services provider’s stock worth $1,439,000 after buying an additional 34,798 shares during the period. Korea Investment CORP boosted its stake in YY by 74.9% in the first quarter. Korea Investment CORP now owns 76,100 shares of the information services provider’s stock worth $3,509,000 after buying an additional 32,600 shares during the period. APG Asset Management N.V. boosted its stake in YY by 6.1% in the first quarter. APG Asset Management N.V. now owns 613,600 shares of the information services provider’s stock worth $28,293,000 after buying an additional 35,400 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in YY by 1.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 78,289 shares of the information services provider’s stock worth $3,610,000 after buying an additional 1,305 shares during the period. Finally, First Trust Advisors LP boosted its stake in YY by 37.3% in the first quarter. First Trust Advisors LP now owns 29,140 shares of the information services provider’s stock worth $1,344,000 after buying an additional 7,918 shares during the period. 54.68% of the stock is currently owned by hedge funds and other institutional investors.

YY Inc. (NASDAQ YY) opened at 69.52 on Wednesday. YY Inc. has a 1-year low of $37.81 and a 1-year high of $83.00.

YY (NASDAQ:YY) last posted its earnings results on Thursday, August 10th. The information services provider reported $1.53 EPS for the quarter, topping the consensus estimate of $1.34 by $0.19. YY had a net margin of 22.08% and a return on equity of 39.07%. The business had revenue of $384.85 million for the quarter, compared to the consensus estimate of $366.35 million. During the same period last year, the company earned $0.90 EPS. The firm’s revenue was up 28.9% compared to the same quarter last year. Analysts predict that YY Inc. will post $6.14 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This article was first reported by Watch List News and is owned by of Watch List News. If you are accessing this article on another website, it was illegally copied and reposted in violation of United States and international copyright law. The legal version of this article can be read at https://www.watchlistnews.com/renaissance-group-llc-acquires-708-shares-of-yy-inc-yy/1531812.html.

A number of research firms have recently weighed in on YY. Citigroup Inc. lifted their price target on YY to $100.00 and gave the company a “buy” rating in a report on Friday, August 11th. HSBC Holdings plc reaffirmed a “buy” rating and set a $89.00 price target (up previously from $65.00) on shares of YY in a report on Friday, August 11th. Deutsche Bank AG reaffirmed a “buy” rating and set a $100.00 price target (up previously from $69.00) on shares of YY in a report on Friday, August 11th. ValuEngine cut YY from a “strong-buy” rating to a “buy” rating in a report on Monday, August 7th. Finally, Zacks Investment Research raised YY from a “hold” rating to a “strong-buy” rating and set a $85.00 price target on the stock in a report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. YY has an average rating of “Buy” and an average price target of $68.03.

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.

Institutional Ownership by Quarter for YY (NASDAQ:YY)

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.