Sumitomo Mitsui Trust Holdings Inc. Acquires 3,875 Shares of YY Inc. (YY)
Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in YY Inc. (NASDAQ:YY) by 4.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,164 shares of the information services provider’s stock after buying an additional 3,875 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.15% of YY worth $4,768,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Advisors Preferred LLC purchased a new position in shares of YY during the 2nd quarter valued at $145,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of YY by 7.5% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,870 shares of the information services provider’s stock valued at $167,000 after purchasing an additional 200 shares in the last quarter. Smith Asset Management Group LP purchased a new position in shares of YY during the 1st quarter valued at $206,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of YY during the 1st quarter valued at $277,000. Finally, Tudor Investment Corp ET AL purchased a new position in shares of YY during the 1st quarter valued at $280,000. Institutional investors and hedge funds own 54.68% of the company’s stock.
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Shares of YY Inc. (NASDAQ YY) opened at 74.35 on Tuesday. The stock’s 50 day moving average is $72.47 and its 200-day moving average is $56.79. The company has a market capitalization of $4.17 billion, a P/E ratio of 14.00 and a beta of 1.16. YY Inc. has a 12-month low of $37.81 and a 12-month high of $83.00.
YY (NASDAQ:YY) last posted its earnings results on Thursday, August 10th. The information services provider reported $1.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.19. The company had revenue of $384.85 million during 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%. YY’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period last year, the company posted $0.90 earnings per share. Analysts anticipate that YY Inc. will post $6.16 earnings per share for the current year.
A number of research analysts have recently commented 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. Zacks Investment Research upgraded shares of YY from a “hold” rating to a “strong-buy” rating and set a $85.00 price target for the company in a research report on Friday, August 25th. HSBC Holdings plc restated a “buy” rating and set a $89.00 price target (up from $65.00) on shares of YY in a research report on Friday, August 11th. ValuEngine lowered shares of YY from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 7th. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. YY has a consensus rating of “Buy” and an average price target of $69.97.
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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