Renaissance Technologies LLC Grows Holdings in YY Inc (NASDAQ:YY)

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.



YY (NASDAQ:YY) last issued its quarterly earnings results on Tuesday, August 13th. The information services provider reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.13). The business had revenue of $917.00 million during the quarter, compared to analyst estimates of $878.97 million. YY had a return on equity of 9.71% and a net margin of 22.75%. YY’s revenue was up 60.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.03 EPS. Analysts expect that YY Inc will post 3.4 EPS for the current fiscal year.

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.

About YY

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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Institutional Ownership by Quarter for YY (NASDAQ:YY)

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