Driehaus Capital Management LLC purchased a new stake in YY Inc (NASDAQ:YY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,340 shares of the information services provider’s stock, valued at approximately $1,395,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Voya Investment Management LLC acquired a new position in YY in the 2nd quarter valued at $268,000. The Manufacturers Life Insurance Company grew its holdings in YY by 39.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,573 shares of the information services provider’s stock valued at $323,000 after buying an additional 1,573 shares in the last quarter. First Trust Advisors LP grew its holdings in YY by 30.5% in the 3rd quarter. First Trust Advisors LP now owns 45,453 shares of the information services provider’s stock valued at $3,944,000 after buying an additional 10,619 shares in the last quarter. State of Wisconsin Investment Board grew its holdings in YY by 46.6% in the 3rd quarter. State of Wisconsin Investment Board now owns 90,760 shares of the information services provider’s stock valued at $7,876,000 after buying an additional 28,845 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new position in YY in the 3rd quarter valued at $19,275,000. Institutional investors and hedge funds own 59.81% of the company’s stock.
A number of research analysts have commented on YY shares. Benchmark reaffirmed a “buy” rating and issued a $127.00 price objective on shares of YY in a report on Wednesday, November 15th. Jefferies Group raised YY from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Wednesday, November 15th. BidaskClub lowered YY from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 5th. Vetr raised YY from a “hold” rating to a “buy” rating and set a $116.48 price objective on the stock in a report on Friday, December 15th. Finally, ValuEngine lowered YY from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 14th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $122.71.
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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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