Conning Inc. maintained its position in shares of YY Inc. (NASDAQ:YY) during the second quarter, Holdings Channel reports. The fund owned 33,000 shares of the company’s stock at the end of the second quarter. Conning Inc.’s holdings in YY were worth $1,118,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Seven Eight Capital LLC raised its position in YY by 44.9% in the first quarter. Seven Eight Capital LLC now owns 1,965 shares of the company’s stock worth $121,000 after buying an additional 609 shares in the last quarter. Bank of Montreal Can acquired a new position in YY during the second quarter worth about $191,000. Tobam acquired a new position in YY during the first quarter worth about $392,000. British Columbia Investment Management Corp acquired a new position in YY during the second quarter worth about $224,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in YY during the first quarter worth about $511,000. 32.80% of the stock is owned by hedge funds and other institutional investors.
YY Inc. (NASDAQ:YY) traded up 1.01% during midday trading on Tuesday, reaching $54.18. 1,076,283 shares of the company were exchanged. The company has a 50 day moving average of $50.78 and a 200-day moving average of $48.70. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 19.43 and a beta of 1.17. YY Inc. has a 52-week low of $31.07 and a 52-week high of $65.53.
YY (NASDAQ:YY) last announced its quarterly earnings results on Wednesday, August 17th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.29. YY had a return on equity of 30.67% and a net margin of 15.17%. On average, equities research analysts anticipate that YY Inc. will post $3.33 earnings per share for the current fiscal year.
A number of brokerages have recently commented on YY. TheStreet cut shares of YY from a “buy” rating to a “hold” rating in a research note on Thursday, June 9th. JPMorgan Chase & Co. began coverage on shares of YY in a research note on Wednesday, August 31st. They set an “overweight” rating and a $62.00 price objective on the stock. Zacks Investment Research raised shares of YY from a “sell” rating to a “hold” rating in a research note on Thursday, September 8th. Finally, Credit Suisse Group AG began coverage on shares of YY in a research note on Wednesday, September 14th. They set an “outperform” rating and a $64.00 price objective on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. YY presently has an average rating of “Buy” and an average price target of $63.25.
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.
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