Penserra Capital Management LLC Reduces Holdings in YY (YY)

Penserra Capital Management LLC reduced its stake in shares of YY (NASDAQ:YY) by 40.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,421 shares of the information services provider’s stock after selling 66,335 shares during the quarter. Penserra Capital Management LLC owned about 0.15% of YY worth $10,248,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Wells Fargo & Company MN raised its position in YY by 111.7% during the third quarter. Wells Fargo & Company MN now owns 19,318 shares of the information services provider’s stock worth $1,675,000 after acquiring an additional 10,191 shares during the last quarter. Bank of Montreal Can raised its position in YY by 16.2% during the fourth quarter. Bank of Montreal Can now owns 17,718 shares of the information services provider’s stock worth $2,003,000 after acquiring an additional 2,464 shares during the last quarter. Creative Planning acquired a new position in YY during the fourth quarter worth about $1,052,000. Gulf International Bank UK Ltd increased its position in YY by 17.9% during the fourth quarter. Gulf International Bank UK Ltd now owns 13,200 shares of the information services provider’s stock worth $1,492,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Eqis Capital Management Inc. increased its position in YY by 6.7% during the fourth quarter. Eqis Capital Management Inc. now owns 13,532 shares of the information services provider’s stock worth $1,530,000 after purchasing an additional 855 shares during the last quarter. Hedge funds and other institutional investors own 55.19% of the company’s stock.

Several equities analysts recently commented on the stock. Citigroup began coverage on shares of YY in a research report on Tuesday, February 20th. They set a “buy” rating and a $150.00 price target for the company. Zacks Investment Research upgraded shares of YY from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a research note on Saturday, February 10th. Vetr raised shares of YY from a “buy” rating to a “strong-buy” rating and set a $148.60 price target on the stock in a report on Monday, February 5th. BidaskClub cut shares of YY from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, Jefferies Group increased their target price on shares of YY from $158.00 to $164.00 and gave the stock a “buy” rating in a report on Tuesday, March 6th. Four research analysts have rated the stock with a hold rating, eleven have issued 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 $132.99.

YY traded up $0.35 during trading on Tuesday, reaching $106.05. 30,998 shares of the company’s stock were exchanged, compared to its average volume of 1,351,520. YY has a fifty-two week low of $53.21 and a fifty-two week high of $142.97. The company has a market capitalization of $6.78 billion, a P/E ratio of 16.63, a P/E/G ratio of 0.66 and a beta of 1.63.

YY (NASDAQ:YY) last released its quarterly earnings results on Monday, March 5th. The information services provider reported $1.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.03. The business had revenue of $557.39 million during the quarter, compared to analysts’ expectations of $543.33 million. YY had a return on equity of 29.96% and a net margin of 21.48%. analysts forecast that YY will post 7.19 earnings per share for the current fiscal year.

YY Company Profile

YY Inc, through its subsidiaries, operates a live streaming platform in the People's Republic of China. It engages users to interact in live online group activities through voice, text, and video, as well as to create and organize groups of various 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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