BlackRock Inc. boosted its holdings in YY Inc. (NASDAQ:YY) by 51.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,980,784 shares of the information services provider’s stock after acquiring an additional 674,292 shares during the period. BlackRock Inc. owned 3.56% of YY worth $114,945,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Prudential Financial Inc. raised its stake in YY by 286.8% in the 2nd quarter. Prudential Financial Inc. now owns 724,050 shares of the information services provider’s stock valued at $42,017,000 after acquiring an additional 536,850 shares during the period. Morgan Stanley increased its position in YY by 245.7% during the 1st quarter. Morgan Stanley now owns 39,544 shares of the information services provider’s stock worth $1,824,000 after buying an additional 28,104 shares during the period. Goldman Sachs Group Inc. increased its position in YY by 107.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 583,091 shares of the information services provider’s stock worth $26,886,000 after buying an additional 302,599 shares during the period. Wellington Management Group LLP increased its position in YY by 384.4% during the 1st quarter. Wellington Management Group LLP now owns 543,305 shares of the information services provider’s stock worth $25,052,000 after buying an additional 431,155 shares during the period. Finally, Todd Asset Management LLC bought a new position in YY during the 2nd quarter worth $6,043,000. Institutional investors and hedge funds own 55.05% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “YY Inc. (YY) Shares Bought by BlackRock Inc.” was originally posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this report on another website, it was copied illegally and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this report can be read at https://www.thecerbatgem.com/2017/10/19/yy-inc-yy-shares-bought-by-blackrock-inc.html.

YY Inc. (NASDAQ:YY) opened at 94.94 on Thursday. YY Inc. has a 12 month low of $37.81 and a 12 month high of $96.28. The company has a market cap of $5.32 billion, a PE ratio of 17.48 and a beta of 1.18. The company has a 50 day moving average price of $83.17 and a 200-day moving average price of $65.49.

YY (NASDAQ:YY) last announced its quarterly earnings data on Thursday, August 10th. The information services provider reported $1.53 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 analyst estimates of $366.35 million. YY had a return on equity of 39.07% and a net margin of 22.08%. The company’s revenue was up 28.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 EPS. Equities analysts predict that YY Inc. will post $6.15 earnings per share for the current fiscal year.

YY has been the topic of several recent research reports. Bank of America Corporation reiterated a “buy” rating and set a $66.00 price objective on shares of YY in a research report on Tuesday, July 4th. Zacks Investment Research cut YY from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 13th. BidaskClub upgraded YY from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 20th. ValuEngine cut YY from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 7th. Finally, Citigroup Inc. increased their price objective on YY to $100.00 and gave the stock a “buy” rating in a research report on Friday, August 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $74.58.

About YY

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 & Stock 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 stocks with our FREE daily email newsletter.