Mirae Asset Global Investments Co. Ltd. lifted its position in shares of YY Inc (NASDAQ:YY) by 336.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,401 shares of the information services provider’s stock after purchasing an additional 47,343 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.10% of YY worth $4,600,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nomura Holdings Inc. boosted 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 purchasing an additional 895 shares in the last quarter. 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 raised its holdings 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 acquiring an additional 6,930 shares during the period. Finally, Raymond James & Associates raised its holdings 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 acquiring an additional 2,312 shares during the period. 57.45% of the stock is currently owned by institutional investors.
Shares of YY stock opened at $62.66 on Friday. YY Inc has a 1 year low of $56.65 and a 1 year high of $142.97. The firm has a market capitalization of $4.17 billion, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 0.44 and a beta of 0.89.
YY (NASDAQ:YY) last issued its quarterly 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. YY had a net margin of 14.07% and a return on equity of 19.64%. The firm had revenue of $597.00 million for the quarter, compared to analyst estimates of $577.38 million. During the same period in the previous year, the business earned $1.59 EPS. Equities research analysts anticipate that YY Inc will post 6.57 earnings per share for the current fiscal year.
A number of brokerages recently commented on YY. Benchmark restated a “buy” rating and set a $140.00 price objective (down from $168.00) on shares of YY in a report on Tuesday, August 14th. ValuEngine lowered shares of YY from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 14th. BidaskClub upgraded shares of YY from a “strong sell” rating to a “sell” rating in a report on Saturday, September 22nd. Jefferies Financial Group restated a “buy” rating and set a $110.00 price objective on shares of YY in a report on Wednesday, August 15th. Finally, CLSA set a $125.00 price objective on shares of YY and gave the stock a “buy” rating in a report on Tuesday, September 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. YY has an average rating of “Buy” and an average target price of $119.99.
COPYRIGHT VIOLATION NOTICE: “YY Inc (YY) Stake Boosted by Mirae Asset Global Investments Co. Ltd.” was reported by American Banking News and is the property of of American Banking News. If you are accessing this story on another website, it was illegally copied and republished in violation of US & international copyright & trademark laws. The legal version of this story can be accessed at https://www.americanbankingnews.com/2018/12/08/yy-inc-yy-stake-boosted-by-mirae-asset-global-investments-co-ltd.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.
Read More: What is a Derivative?
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.