New York State Common Retirement Fund Grows Position in YY Inc. (YY)

New York State Common Retirement Fund lifted its position in YY Inc. (NASDAQ:YY) by 610.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 135,700 shares of the information services provider’s stock after acquiring an additional 116,599 shares during the period. New York State Common Retirement Fund owned 0.24% of YY worth $7,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prudential Financial Inc. grew its position in YY by 286.8% during the 2nd quarter. Prudential Financial Inc. now owns 724,050 shares of the information services provider’s stock worth $42,017,000 after purchasing an additional 536,850 shares during the period. Morgan Stanley grew its position in YY by 245.7% during the 1st quarter. Morgan Stanley now owns 39,544 shares of the information services provider’s stock worth $1,824,000 after purchasing an additional 28,104 shares during the period. Goldman Sachs Group Inc. grew its position in YY by 107.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 583,091 shares of the information services provider’s stock worth $26,886,000 after purchasing an additional 302,599 shares during the period. Wellington Management Group LLP grew its position in YY by 384.4% during the 1st quarter. Wellington Management Group LLP now owns 543,305 shares of the information services provider’s stock worth $25,052,000 after purchasing an additional 431,155 shares during the period. Finally, Todd Asset Management LLC acquired a new stake in YY during the 2nd quarter worth about $6,043,000. 55.05% of the stock is currently owned by hedge funds and other institutional investors.

WARNING: “New York State Common Retirement Fund Grows Position in YY Inc. (YY)” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this article on another publication, it was illegally stolen and republished in violation of US and international copyright and trademark laws. The original version of this article can be viewed at https://ledgergazette.com/2017/10/11/new-york-state-common-retirement-fund-grows-position-in-yy-inc-yy.html.

Shares of YY Inc. (NASDAQ YY) opened at 89.27 on Wednesday. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of 16.44 and a beta of 1.18. The stock’s 50 day moving average is $79.60 and its 200 day moving average is $63.58. YY Inc. has a 52-week low of $37.81 and a 52-week high of $94.00.

YY (NASDAQ:YY) last announced its quarterly earnings data on Thursday, August 10th. The information services provider reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.19. The business had revenue of $384.85 million for 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%. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 earnings per share. On average, equities analysts expect that YY Inc. will post $6.09 earnings per share for the current fiscal year.

Several equities research analysts have weighed in on YY shares. Zacks Investment Research raised YY from a “hold” rating to a “strong-buy” rating and set a $85.00 price target on the stock in a research report on Friday, August 25th. Goldman Sachs Group, Inc. (The) initiated coverage on YY in a research report on Wednesday, August 30th. They set a “buy” rating and a $101.00 target price on the stock. Bank of America Corporation raised their target price on YY from $89.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, October 2nd. Deutsche Bank AG restated a “buy” rating and set a $100.00 target price (up from $69.00) on shares of YY in a research report on Friday, August 11th. Finally, HSBC Holdings plc restated a “buy” rating and set a

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Prudential Financial Inc. grew its position in YY by 286.8% during the 2nd quarter. Prudential Financial Inc. now owns 724,050 shares of the information services provider’s stock worth $42,017,000 after purchasing an additional 536,850 shares during the period. Morgan Stanley grew its position in YY by 245.7% during the 1st quarter. Morgan Stanley now owns 39,544 shares of the information services provider’s stock worth $1,824,000 after purchasing an additional 28,104 shares during the period. Goldman Sachs Group Inc. grew its position in YY by 107.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 583,091 shares of the information services provider’s stock worth $26,886,000 after purchasing an additional 302,599 shares during the period. Wellington Management Group LLP grew its position in YY by 384.4% during the 1st quarter. Wellington Management Group LLP now owns 543,305 shares of the information services provider’s stock worth $25,052,000 after purchasing an additional 431,155 shares during the period. Finally, Todd Asset Management LLC acquired a new stake in YY during the 2nd quarter worth about $6,043,000. 55.05% of the stock is currently owned by hedge funds and other institutional investors.

WARNING: “New York State Common Retirement Fund Grows Position in YY Inc. (YY)” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this article on another publication, it was illegally stolen and republished in violation of US and international copyright and trademark laws. The original version of this article can be viewed at https://ledgergazette.com/2017/10/11/new-york-state-common-retirement-fund-grows-position-in-yy-inc-yy.html.

Shares of YY Inc. (NASDAQ YY) opened at 89.27 on Wednesday. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of 16.44 and a beta of 1.18. The stock’s 50 day moving average is $79.60 and its 200 day moving average is $63.58. YY Inc. has a 52-week low of $37.81 and a 52-week high of $94.00.

YY (NASDAQ:YY) last announced its quarterly earnings data on Thursday, August 10th. The information services provider reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.19. The business had revenue of $384.85 million for 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%. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 earnings per share. On average, equities analysts expect that YY Inc. will post $6.09 earnings per share for the current fiscal year.

Several equities research analysts have weighed in on YY shares. Zacks Investment Research raised YY from a “hold” rating to a “strong-buy” rating and set a $85.00 price target on the stock in a research report on Friday, August 25th. Goldman Sachs Group, Inc. (The) initiated coverage on YY in a research report on Wednesday, August 30th. They set a “buy” rating and a $101.00 target price on the stock. Bank of America Corporation raised their target price on YY from $89.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, October 2nd. Deutsche Bank AG restated a “buy” rating and set a $100.00 target price (up from $69.00) on shares of YY in a research report on Friday, August 11th. Finally, HSBC Holdings plc restated a “buy” rating and set a $89.00 target price (up from $65.00) on shares of YY in a research report on Friday, August 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. YY currently has a consensus rating of “Buy” and an average price target of $74.25.

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.

Institutional Ownership by Quarter for YY (NASDAQ:YY)

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