YY Inc. (YY) Position Raised by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC increased its holdings in YY Inc. (NASDAQ:YY) by 460.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 184,900 shares of the information services provider’s stock after buying an additional 151,900 shares during the period. TIAA CREF Investment Management LLC owned 0.33% of YY worth $10,730,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of YY. First Trust Advisors LP raised its position in YY by 37.3% during the first quarter. First Trust Advisors LP now owns 29,140 shares of the information services provider’s stock valued at $1,344,000 after purchasing an additional 7,918 shares in the last quarter. Bank of New York Mellon Corp raised its position in YY by 8.5% during the first quarter. Bank of New York Mellon Corp now owns 39,241 shares of the information services provider’s stock valued at $1,809,000 after purchasing an additional 3,062 shares in the last quarter. Swiss National Bank raised its position in YY by 16.2% during the first quarter. Swiss National Bank now owns 58,067 shares of the information services provider’s stock valued at $2,677,000 after purchasing an additional 8,100 shares in the last quarter. Karp Capital Management Corp purchased a new stake in YY during the first quarter valued at about $995,000. Finally, Sei Investments Co. purchased a new stake in YY during the first quarter valued at about $2,493,000. Institutional investors own 55.03% of the company’s stock.
YY Inc. (NASDAQ YY) opened at 88.77 on Thursday. YY Inc. has a 52 week low of $37.81 and a 52 week high of $94.00.
YY (NASDAQ:YY) last announced its earnings results on Thursday, August 10th. The information services provider reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.19. The firm 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% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 EPS. On average, equities analysts predict that YY Inc. will post $6.10 earnings per share for the current fiscal year.
A number of research firms have weighed in on YY. HSBC Holdings plc restated a “buy” rating and set a $89.00 price target (up previously from $65.00) on shares of YY in a research report on Friday, August 11th. ValuEngine downgraded YY from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 7th. Bank of America Corporation raised their price target on YY from $89.00 to $101.00 and gave the company a “buy” rating in a research report on Monday. Jefferies Group LLC restated a “hold” rating and set a $79.00 price target on shares of YY in a research report on Wednesday, August 16th. Finally, Vetr downgraded YY from a “buy” rating to a “hold” rating and set a $82.17 price target on the stock. in a research report on Monday, September 25th. One 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 company’s stock. YY currently has an average rating of “Buy” and a consensus target price of $74.25.
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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