D.A. Davidson & CO. bought a new position in shares of YY Inc (NASDAQ:YY) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,740 shares of the information services provider’s stock, valued at approximately $205,000.
Several other hedge funds have also recently modified their holdings of YY. First Hawaiian Bank acquired a new position in YY in the third quarter valued at $151,000. Stevens Capital Management LP acquired a new position in YY in the second quarter valued at $212,000. Crossmark Global Holdings Inc. acquired a new position in YY in the second quarter valued at $212,000. United Services Automobile Association acquired a new position in YY in the second quarter valued at $223,000. Finally, Morse Asset Management Inc acquired a new position in YY in the second quarter valued at $264,000. Hedge funds and other institutional investors own 57.45% of the company’s stock.
YY has been the subject of several research analyst reports. BidaskClub downgraded shares of YY from a “hold” rating to a “sell” rating in a research note on Tuesday, November 13th. Zacks Investment Research upgraded shares of YY from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Friday, October 19th. ValuEngine downgraded shares of YY from a “sell” rating to a “strong sell” rating in a research note on Friday, September 7th. JPMorgan Chase & Co. downgraded shares of YY from an “overweight” rating to a “neutral” rating and set a $68.05 target price for the company. in a research note on Tuesday, November 27th. Finally, Goldman Sachs Group upgraded shares of YY from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $117.00 to $108.00 in a research note on Thursday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $119.99.
YY (NASDAQ:YY) last announced its earnings results on Monday, November 12th. The information services provider reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.03. YY had a net margin of 14.07% and a return on equity of 19.64%. The business had revenue of $597.00 million during the quarter, compared to the consensus estimate of $577.38 million. During the same quarter in the prior year, the firm earned $1.59 earnings per share. Research analysts expect that YY Inc will post 6.57 EPS for the current fiscal year.
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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.
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