Stevens Capital Management LP Buys New Stake in YY Inc (YY)

Share on StockTwits

Stevens Capital Management LP acquired a new stake in YY Inc (NASDAQ:YY) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,109 shares of the information services provider’s stock, valued at approximately $212,000.

Several other large investors have also recently bought and sold shares of YY. BlackRock Inc. grew its holdings in YY by 27.8% in the first quarter. BlackRock Inc. now owns 2,363,055 shares of the information services provider’s stock valued at $248,594,000 after purchasing an additional 513,995 shares during the period. Pendal Group Ltd grew its holdings in YY by 667.6% in the second quarter. Pendal Group Ltd now owns 496,943 shares of the information services provider’s stock valued at $49,928,000 after purchasing an additional 432,204 shares during the period. Hsbc Holdings PLC grew its holdings in YY by 153.8% in the first quarter. Hsbc Holdings PLC now owns 364,549 shares of the information services provider’s stock valued at $38,351,000 after purchasing an additional 220,911 shares during the period. Russell Investments Group Ltd. grew its holdings in YY by 111.3% in the second quarter. Russell Investments Group Ltd. now owns 397,627 shares of the information services provider’s stock valued at $40,778,000 after purchasing an additional 209,483 shares during the period. Finally, Greystone Managed Investments Inc. grew its holdings in YY by 67.4% in the second quarter. Greystone Managed Investments Inc. now owns 367,700 shares of the information services provider’s stock valued at $36,943,000 after purchasing an additional 148,000 shares during the period. 61.32% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently issued reports on YY shares. ValuEngine upgraded shares of YY from a “hold” rating to a “buy” rating in a report on Thursday, May 31st. BidaskClub upgraded shares of YY from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd. Nomura lowered their target price on shares of YY from $161.00 to $152.00 and set a “buy” rating for the company in a report on Thursday, June 7th. JPMorgan Chase & Co. boosted their target price on shares of YY from $145.00 to $155.00 and gave the company an “overweight” rating in a report on Thursday, June 7th. Finally, UBS Group decreased their price objective on shares of YY from $160.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, June 8th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $137.19.

YY opened at $76.81 on Wednesday. YY Inc has a 52-week low of $70.06 and a 52-week high of $142.97. The company has a market cap of $4.83 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 0.48 and a beta of 0.79.

YY (NASDAQ:YY) last released its quarterly earnings data on Monday, August 13th. The information services provider reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.22. YY had a net margin of 14.99% and a return on equity of 22.08%. The company had revenue of $570.20 million during the quarter, compared to the consensus estimate of $544.76 million. During the same period in the previous year, the firm earned $1.53 earnings per share. YY’s revenue for the quarter was up 48.1% on a year-over-year basis. sell-side analysts predict that YY Inc will post 6.95 EPS for the current 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; and Huya platform, a live streaming platform, including online games, console games, mobile games, entertainments, sports, etc.

Featured Story: Asset Allocation, Balancing Your Investments

Institutional Ownership by Quarter for YY (NASDAQ:YY)

Receive News & Ratings for YY Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for YY and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply