Axa reduced its holdings in YY Inc (NASDAQ:YY) by 14.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 76,157 shares of the information services provider’s stock after selling 12,858 shares during the quarter. Axa owned approximately 0.12% of YY worth $5,706,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Nomura Holdings Inc. increased its position in shares of YY by 10.2% during the second quarter. Nomura Holdings Inc. now owns 9,643 shares of the information services provider’s stock worth $969,000 after buying an additional 895 shares during the period. Platinum Investment Management Ltd. acquired a new stake in shares of YY during the second quarter worth $53,436,000. Ruffer LLP acquired a new stake in shares of YY during the third quarter worth $4,682,000. Massachusetts Financial Services Co. MA increased its position in shares of YY by 48.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 21,231 shares of the information services provider’s stock worth $2,133,000 after buying an additional 6,930 shares during the period. Finally, Raymond James & Associates increased its position in shares of YY by 9.2% during the second quarter. Raymond James & Associates now owns 27,399 shares of the information services provider’s stock worth $2,753,000 after buying an additional 2,312 shares during the period. Hedge funds and other institutional investors own 59.82% of the company’s stock.
Several research firms have recently weighed in on YY. Jefferies Financial Group reiterated a “buy” rating and set a $110.00 price objective on shares of YY in a research report on Wednesday, August 15th. CLSA set a $125.00 target price on shares of YY and gave the stock a “buy” rating in a research note on Tuesday, September 25th. Zacks Investment Research lowered shares of YY from a “buy” rating to a “hold” rating in a research note on Saturday, November 10th. BidaskClub raised shares of YY from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 22nd. Finally, ValuEngine lowered shares of YY from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 14th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. YY presently has an average rating of “Buy” and a consensus price target of $129.89.
Shares of NASDAQ YY opened at $65.70 on Friday. The firm has a market cap of $4.30 billion, a P/E ratio of 10.35, a P/E/G ratio of 0.46 and a beta of 0.88. YY Inc has a 12-month low of $56.65 and a 12-month high of $142.97.
YY (NASDAQ:YY) last issued its earnings results on Monday, November 12th. The information services provider reported $1.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.03. The business had revenue of $597.00 million for the quarter, compared to analyst estimates of $577.38 million. YY had a net margin of 14.07% and a return on equity of 19.64%. During the same period in the prior year, the firm earned $1.59 earnings per share. On average, analysts predict that YY Inc will post 6.57 EPS for the current year.
TRADEMARK VIOLATION NOTICE: This piece was reported by American Banking News and is the property of of American Banking News. If you are reading this piece on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The original version of this piece can be viewed at https://www.americanbankingnews.com/2018/11/30/axa-sells-12858-shares-of-yy-inc-yy.html.
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: What is the Coverage Ratio?
Want to see what other hedge funds are holding YY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for YY Inc (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.