YY Inc. (NASDAQ:YY) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 1,202,072 shares, a decline of 46.4% from the August 15th total of 2,243,962 shares. Approximately 2.8% of the shares of the stock are sold short. Based on an average daily volume of 2,340,262 shares, the days-to-cover ratio is presently 0.5 days.

A number of hedge funds have recently added to or reduced their stakes in YY. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in YY by 1.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 78,289 shares of the information services provider’s stock valued at $3,610,000 after acquiring an additional 1,305 shares during the last quarter. First Trust Advisors LP raised its holdings in YY by 37.3% in the 1st quarter. First Trust Advisors LP now owns 29,140 shares of the information services provider’s stock valued at $1,344,000 after acquiring an additional 7,918 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in YY by 78.3% in the 1st quarter. Advisors Asset Management Inc. now owns 11,224 shares of the information services provider’s stock valued at $518,000 after acquiring an additional 4,928 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in YY by 770.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 6,439 shares of the information services provider’s stock valued at $535,000 after acquiring an additional 5,699 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in YY by 8.5% in the 1st 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 acquiring an additional 3,062 shares during the last quarter. Institutional investors own 54.68% of the company’s stock.

YY (NASDAQ YY) opened at 78.83 on Friday. YY has a 52-week low of $37.81 and a 52-week high of $83.00. The company has a 50-day moving average price of $74.73 and a 200 day moving average price of $58.55.

YY (NASDAQ:YY) last released its quarterly earnings data on Thursday, August 10th. The information services provider reported $1.53 EPS for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.19. The company had revenue of $384.85 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned $0.90 EPS. Equities analysts expect that YY will post $6.26 earnings per share for the current fiscal year.

YY has been the topic of several research reports. Zacks Investment Research raised YY from a “hold” rating to a “strong-buy” rating and set a $85.00 target price on the stock in a report on Friday, August 25th. Goldman Sachs Group, Inc. (The) initiated coverage on YY in a report on Wednesday, August 30th. They issued a “buy” rating and a $101.00 target price on the stock. Deutsche Bank AG reaffirmed a “buy” rating and issued a $100.00 target price (up from $69.00) on shares of YY in a report on Friday, August 11th. HSBC Holdings plc reaffirmed a “buy” rating and issued a $89.00 target price (up from $65.00) on shares of YY in a report on Friday, August 11th. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $66.00 target price on shares of YY in a report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $70.34.

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YY Company 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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