Point72 Asset Management L.P. Buys New Position in YY Inc (NASDAQ:YY)

Point72 Asset Management L.P. bought a new stake in YY Inc (NASDAQ:YY) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 29,018 shares of the information services provider’s stock, valued at approximately $1,632,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AXA increased its holdings in shares of YY by 0.3% during the 2nd quarter. AXA now owns 74,353 shares of the information services provider’s stock worth $5,181,000 after acquiring an additional 210 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in YY by 214.2% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 377 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 257 shares during the last quarter. Rehmann Capital Advisory Group lifted its holdings in YY by 200.0% during the 2nd quarter. Rehmann Capital Advisory Group now owns 390 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 260 shares during the last quarter. Advisor Group Inc. boosted its position in YY by 61.9% during the second quarter. Advisor Group Inc. now owns 696 shares of the information services provider’s stock worth $48,000 after purchasing an additional 266 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its position in YY by 5.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 5,896 shares of the information services provider’s stock worth $1,463,000 after purchasing an additional 279 shares during the period. Hedge funds and other institutional investors own 50.73% of the company’s stock.

Several analysts recently weighed in on YY shares. Zacks Investment Research cut YY from a “buy” rating to a “hold” rating in a report on Saturday, November 23rd. Nomura boosted their target price on shares of YY from $70.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. TheStreet downgraded shares of YY from a “b-” rating to a “c+” rating in a research note on Friday, August 30th. BidaskClub raised shares of YY from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, ValuEngine upgraded shares of YY from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. YY has an average rating of “Buy” and a consensus target price of $85.51.

Shares of NASDAQ:YY opened at $60.76 on Wednesday. The company’s 50 day simple moving average is $60.77 and its 200 day simple moving average is $62.62. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of 8.52, a price-to-earnings-growth ratio of 3.44 and a beta of 1.21. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.40 and a quick ratio of 4.40. YY Inc has a 1 year low of $51.00 and a 1 year high of $88.85.

YY (NASDAQ:YY) last released its earnings results on Tuesday, November 12th. The information services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.15. The firm had revenue of $962.90 million during the quarter, compared to analysts’ expectations of $947.24 million. YY had a return on equity of 7.80% and a net margin of 17.76%. During the same period in the prior year, the company earned $1.76 earnings per share. As a group, analysts anticipate that YY Inc will post 3.04 EPS for the current fiscal year.

YY Company Profile

YY Inc, through its subsidiaries, engages in the live streaming business in the People's Republic of China. The company operates YY Live platform, an online music and entertainment live streaming service; Huya platform, a live streaming platform, including online games, console games, mobile games, entertainments, sports, etc.; and Bigo, a leading short-form video social platform.

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Institutional Ownership by Quarter for YY (NASDAQ:YY)

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