River & Mercantile Asset Management LLP grew its stake in shares of YY Inc (NASDAQ:YY) by 263.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 70,600 shares of the information services provider’s stock after buying an additional 51,200 shares during the quarter. River & Mercantile Asset Management LLP owned approximately 0.11% of YY worth $5,289,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. First Hawaiian Bank acquired a new position in shares of YY during the third quarter worth $151,000. Stevens Capital Management LP acquired a new position in shares of YY during the second quarter worth $212,000. Crossmark Global Holdings Inc. acquired a new position in shares of YY during the second quarter worth $212,000. United Services Automobile Association acquired a new position in shares of YY during the second quarter worth $223,000. Finally, Morse Asset Management Inc acquired a new position in shares of YY during the second quarter worth $264,000. 57.45% of the stock is currently owned by hedge funds and other institutional investors.
YY has been the topic of a number of recent research reports. Benchmark reiterated a “buy” rating and set a $140.00 price target (down previously from $168.00) on shares of YY in a report on Tuesday, August 14th. Goldman Sachs Group upgraded shares of YY from a “neutral” rating to a “buy” rating and cut their price target for the stock from $117.00 to $108.00 in a report on Thursday. Zacks Investment Research upgraded shares of YY from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a report on Friday, October 19th. CLSA set a $125.00 price target on shares of YY and gave the stock a “buy” rating in a report on Tuesday, September 25th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $110.00 price target on shares of YY in a report on Wednesday, August 15th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $119.99.
YY stock opened at $62.66 on Friday. The firm has a market capitalization of $4.09 billion, a P/E ratio of 9.73, a PEG ratio of 0.43 and a beta of 0.89. YY Inc has a 12-month low of $56.65 and a 12-month high of $142.97.
YY (NASDAQ:YY) last released its earnings results on Monday, November 12th. The information services provider reported $1.76 earnings per share (EPS) for the quarter, beating the 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 quarter in the previous year, the business earned $1.59 earnings per share. Equities analysts expect that YY Inc will post 6.57 EPS for the current year.
ILLEGAL ACTIVITY NOTICE: This story was first posted by American Banking News and is owned by of American Banking News. If you are accessing this story on another domain, it was copied illegally and reposted in violation of US and international copyright and trademark laws. The correct version of this story can be accessed at https://www.americanbankingnews.com/2018/12/08/river-mercantile-asset-management-llp-boosts-holdings-in-yy-inc-yy.html.
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.
Read More: Trading Penny Stocks
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.