Bank of New York Mellon Corp reduced its position in shares of YY Inc (NASDAQ:YY) by 70.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,630 shares of the information services provider’s stock after selling 157,447 shares during the period. Bank of New York Mellon Corp owned approximately 0.10% of YY worth $4,842,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised its holdings in YY by 1.5% in the 3rd quarter. Acadian Asset Management LLC now owns 1,651,855 shares of the information services provider’s stock valued at $123,756,000 after acquiring an additional 24,583 shares in the last quarter. FMR LLC raised its holdings in YY by 25.3% in the 2nd quarter. FMR LLC now owns 883,931 shares of the information services provider’s stock valued at $88,808,000 after acquiring an additional 178,670 shares in the last quarter. Bank of Montreal Can raised its holdings in YY by 704.0% in the 3rd quarter. Bank of Montreal Can now owns 251,828 shares of the information services provider’s stock valued at $18,867,000 after acquiring an additional 220,506 shares in the last quarter. Perpetual Ltd raised its holdings in YY by 3.2% in the 3rd quarter. Perpetual Ltd now owns 221,087 shares of the information services provider’s stock valued at $16,564,000 after acquiring an additional 6,800 shares in the last quarter. Finally, Ruffer LLP acquired a new position in YY in the 3rd quarter valued at $4,682,000. 56.08% of the stock is owned by institutional investors and hedge funds.
Shares of YY opened at $69.82 on Thursday. YY Inc has a 52-week low of $55.55 and a 52-week high of $140.39. The firm has a market capitalization of $4.44 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 0.36 and a beta of 1.27.
Several equities analysts have weighed in on YY shares. Zacks Investment Research raised YY from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Friday, October 19th. BidaskClub raised YY from a “hold” rating to a “buy” rating in a report on Saturday, January 19th. Goldman Sachs Group raised YY from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $117.00 to $108.00 in a report on Thursday, December 6th. Benchmark dropped their price objective on YY to $106.00 and set a “buy” rating for the company in a report on Tuesday, November 13th. Finally, Tigress Financial began coverage on YY in a report on Friday, January 4th. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $102.91.
ILLEGAL ACTIVITY NOTICE: “Bank of New York Mellon Corp Reduces Position in YY Inc (YY)” was originally reported by Week Herald and is the sole property of of Week Herald. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://weekherald.com/2019/02/14/bank-of-new-york-mellon-corp-reduces-position-in-yy-inc-yy.html.
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; and Huya platform, a live streaming platform, including online games, console games, mobile games, entertainments, sports, etc.
Further Reading: What is a Derivative?
Want to see what other hedge funds are holding YY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for YY Inc (NASDAQ:YY).
Receive News & Ratings for YY Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for YY and related companies with MarketBeat.com's FREE daily email newsletter.