Glovista Investments LLC raised its holdings in YY Inc. (NASDAQ:YY) by 59.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,524 shares of the information services provider’s stock after buying an additional 16,177 shares during the quarter. Glovista Investments LLC’s holdings in YY were worth $2,526,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of YY. First Trust Advisors LP grew its position in shares of YY by 37.3% in the 1st 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 last quarter. Bank of New York Mellon Corp boosted its position in shares of 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 boosted its position in shares of 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 bought a new stake in shares of YY during the first quarter valued at approximately $995,000. Finally, Sei Investments Co. bought a new stake in shares of YY during the first quarter valued at approximately $2,493,000. Hedge funds and other institutional investors own 54.67% of the company’s stock.

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Shares of YY Inc. (NASDAQ:YY) traded up 1.12% on Friday, reaching $86.78. The company’s stock had a trading volume of 1,488,819 shares. YY Inc. has a one year low of $37.81 and a one year high of $89.37.

YY (NASDAQ:YY) last released its quarterly earnings results on Thursday, August 10th. The information services provider reported $1.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.19. The firm had revenue of $384.85 million for the quarter, compared to analyst estimates of $366.35 million. YY had a net margin of 22.08% and a return on equity of 39.07%. The business’s revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.90 EPS. Equities analysts expect that YY Inc. will post $6.15 earnings per share for the current fiscal year.

Several equities research analysts recently weighed in on YY shares. Zacks Investment Research upgraded YY from a “hold” rating to a “strong-buy” rating and set a $85.00 price target on the stock in a research report on Friday, August 25th. Goldman Sachs Group, Inc. (The) started coverage on YY in a research report on Wednesday, August 30th. They set a “buy” rating and a $101.00 price target on the stock. Deutsche Bank AG restated a “buy” rating and set a $100.00 price target (up from $69.00) on shares of YY in a research report on Friday, August 11th. 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. Finally, Bank of America Corporation restated a “buy” rating and set a $66.00 price target on shares of YY in a research report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $72.07.

YY 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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Institutional Ownership by Quarter for YY (NASDAQ:YY)

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