YY Inc. (YY) Stake Lowered by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its stake in YY Inc. (NASDAQ:YY) by 7.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 239,300 shares of the information services provider’s stock after selling 18,992 shares during the quarter. Renaissance Technologies LLC owned approximately 0.43% of YY worth $13,887,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in YY. BlackRock Inc. raised its stake in YY by 51.6% in the 2nd quarter. BlackRock Inc. now owns 1,980,784 shares of the information services provider’s stock valued at $114,945,000 after acquiring an additional 674,292 shares during the period. Boston Partners raised its stake in YY by 19.7% in the 2nd quarter. Boston Partners now owns 1,575,753 shares of the information services provider’s stock valued at $91,441,000 after acquiring an additional 258,815 shares during the period. Acadian Asset Management LLC raised its stake in YY by 96.4% in the 2nd quarter. Acadian Asset Management LLC now owns 1,358,113 shares of the information services provider’s stock valued at $78,808,000 after acquiring an additional 666,481 shares during the period. Prudential Financial Inc. raised its stake in YY by 286.8% in the 2nd quarter. Prudential Financial Inc. now owns 724,050 shares of the information services provider’s stock valued at $42,017,000 after acquiring an additional 536,850 shares during the period. Finally, FMR LLC raised its stake in YY by 9,789.6% in the 2nd quarter. FMR LLC now owns 662,600 shares of the information services provider’s stock valued at $38,451,000 after acquiring an additional 655,900 shares during the period. 55.05% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: “YY Inc. (YY) Stake Lowered by Renaissance Technologies LLC” was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this news story on another domain, it was copied illegally and republished in violation of U.S. & international copyright & trademark law. The original version of this news story can be read at https://ledgergazette.com/2017/10/18/yy-inc-yy-stake-lowered-by-renaissance-technologies-llc.html.

Shares of YY Inc. (YY) opened at 94.42 on Wednesday. YY Inc. has a 1-year low of $37.81 and a 1-year high of $97.55.

YY (NASDAQ:YY) last announced its earnings results on Thursday, August 10th. The information services provider reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.19. The business had revenue of $384.85 million for the quarter, compared to analyst estimates of $366.35 million. YY had a return on equity of 39.07% and a net margin of 22.08%. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 EPS. On average, equities research analysts forecast that YY Inc. will post $6.15 earnings per share for the current fiscal year.

A number of equities research analysts recently weighed in on YY shares. Deutsche Bank AG restated a “buy” rating and issued a $100.00 price target (up previously from $69.00) on shares of YY in a research note on Friday, August 11th. HSBC Holdings plc restated a “buy” rating and issued a $89.00 price target (up previously from $65.00) on shares of YY in a research note on Friday, August 11th. Citigroup Inc. increased their price target on YY to $100.00 and gave the company a “buy” rating in a research note on Friday, August 11th. ValuEngine cut YY from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 7th. Finally, Goldman Sachs Group, Inc. (The) started coverage on YY in a research note on Wednesday, August 30th. They issued a “buy” rating and a $101.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating, ten have

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in YY. BlackRock Inc. raised its stake in YY by 51.6% in the 2nd quarter. BlackRock Inc. now owns 1,980,784 shares of the information services provider’s stock valued at $114,945,000 after acquiring an additional 674,292 shares during the period. Boston Partners raised its stake in YY by 19.7% in the 2nd quarter. Boston Partners now owns 1,575,753 shares of the information services provider’s stock valued at $91,441,000 after acquiring an additional 258,815 shares during the period. Acadian Asset Management LLC raised its stake in YY by 96.4% in the 2nd quarter. Acadian Asset Management LLC now owns 1,358,113 shares of the information services provider’s stock valued at $78,808,000 after acquiring an additional 666,481 shares during the period. Prudential Financial Inc. raised its stake in YY by 286.8% in the 2nd quarter. Prudential Financial Inc. now owns 724,050 shares of the information services provider’s stock valued at $42,017,000 after acquiring an additional 536,850 shares during the period. Finally, FMR LLC raised its stake in YY by 9,789.6% in the 2nd quarter. FMR LLC now owns 662,600 shares of the information services provider’s stock valued at $38,451,000 after acquiring an additional 655,900 shares during the period. 55.05% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: “YY Inc. (YY) Stake Lowered by Renaissance Technologies LLC” was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this news story on another domain, it was copied illegally and republished in violation of U.S. & international copyright & trademark law. The original version of this news story can be read at https://ledgergazette.com/2017/10/18/yy-inc-yy-stake-lowered-by-renaissance-technologies-llc.html.

Shares of YY Inc. (YY) opened at 94.42 on Wednesday. YY Inc. has a 1-year low of $37.81 and a 1-year high of $97.55.

YY (NASDAQ:YY) last announced its earnings results on Thursday, August 10th. The information services provider reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.19. The business had revenue of $384.85 million for the quarter, compared to analyst estimates of $366.35 million. YY had a return on equity of 39.07% and a net margin of 22.08%. The company’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 EPS. On average, equities research analysts forecast that YY Inc. will post $6.15 earnings per share for the current fiscal year.

A number of equities research analysts recently weighed in on YY shares. Deutsche Bank AG restated a “buy” rating and issued a $100.00 price target (up previously from $69.00) on shares of YY in a research note on Friday, August 11th. HSBC Holdings plc restated a “buy” rating and issued a $89.00 price target (up previously from $65.00) on shares of YY in a research note on Friday, August 11th. Citigroup Inc. increased their price target on YY to $100.00 and gave the company a “buy” rating in a research note on Friday, August 11th. ValuEngine cut YY from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 7th. Finally, Goldman Sachs Group, Inc. (The) started coverage on YY in a research note on Wednesday, August 30th. They issued a “buy” rating and a $101.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $74.58.

YY 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.

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Institutional Ownership by Quarter for YY (NASDAQ:YY)

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