Renaissance Technologies LLC grew its holdings in YY Inc (NASDAQ:YY) by 78.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 512,600 shares of the information services provider’s stock after purchasing an additional 224,800 shares during the period. Renaissance Technologies LLC owned about 0.81% of YY worth $35,723,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Greenwoods Asset Management Ltd increased its stake in shares of YY by 80.0% during the first quarter. Greenwoods Asset Management Ltd now owns 1,977,179 shares of the information services provider’s stock valued at $166,103,000 after buying an additional 878,685 shares during the period. Ward Ferry Management BVI Ltd grew its stake in YY by 18.6% in the first quarter. Ward Ferry Management BVI Ltd now owns 1,222,568 shares of the information services provider’s stock valued at $102,708,000 after purchasing an additional 192,077 shares during the last quarter. NINE MASTS CAPITAL Ltd purchased a new position in YY in the second quarter valued at about $10,943,000. Victory Capital Management Inc. purchased a new position in YY in the first quarter valued at about $10,536,000. Finally, Andra AP fonden purchased a new position in YY in the first quarter valued at about $8,073,000. Institutional investors and hedge funds own 64.16% of the company’s stock.
NASDAQ YY traded up $1.21 during trading on Friday, hitting $60.88. The company’s stock had a trading volume of 17,195 shares, compared to its average volume of 899,038. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.29 and a quick ratio of 4.29. The company has a market cap of $3.66 billion, a PE ratio of 8.53, a P/E/G ratio of 1.20 and a beta of 1.21. The business’s 50 day simple moving average is $57.43 and its 200-day simple moving average is $70.94. YY Inc has a fifty-two week low of $51.00 and a fifty-two week high of $88.85.
Several equities analysts have issued reports on YY shares. Nomura upgraded YY from a “neutral” rating to a “buy” rating and cut their target price for the company from $81.00 to $77.00 in a research note on Wednesday, May 29th. ValuEngine upgraded YY from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. Bank of America cut their target price on YY from $98.00 to $83.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Benchmark reiterated a “buy” rating and issued a $95.00 target price (down previously from $106.00) on shares of YY in a research note on Wednesday, May 29th. Finally, Jefferies Financial Group started coverage on YY in a research note on Monday, August 5th. They issued a “buy” rating and a $76.10 target price on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. YY currently has a consensus rating of “Buy” and a consensus price target of $90.90.
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; Huya platform, a live streaming platform, including online games, console games, mobile games, entertainments, sports, etc.; and Bigo, a leading short-form video social platform.
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