Bank of America Corp DE decreased its position in shares of YY Inc. (NASDAQ:YY) by 67.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 76,653 shares of the information services provider’s stock after selling 158,979 shares during the period. Bank of America Corp DE’s holdings in YY were worth $3,534,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Smith Asset Management Group LP purchased a new position in YY during the first quarter worth $206,000. Quantbot Technologies LP purchased a new position in YY during the first quarter worth $285,000. FMR LLC purchased a new position in YY during the first quarter worth $309,000. Renaissance Group LLC purchased a new position in YY during the first quarter worth $385,000. Finally, Oxford Asset Management purchased a new position in YY during the first quarter worth $401,000. Institutional investors and hedge funds own 48.65% of the company’s stock.
YY Inc. (YY) traded down 0.80% on Friday, hitting $73.49. 790,472 shares of the stock were exchanged. The company has a market capitalization of $4.09 billion, a PE ratio of 15.80 and a beta of 1.16. YY Inc. has a 52-week low of $37.81 and a 52-week high of $75.04.
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YY has been the topic of a number of analyst reports. TheStreet upgraded shares of YY from a “c” rating to a “b-” rating in a research report on Wednesday, May 3rd. BOCOM International Holdings initiated coverage on shares of YY in a research report on Monday, May 8th. They set a “buy” rating and a $64.00 price objective on the stock. Vetr cut shares of YY from a “strong-buy” rating to a “buy” rating and set a $57.51 price objective on the stock. in a research report on Monday, May 8th. Benchmark Co. initiated coverage on shares of YY in a research report on Tuesday, April 18th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, BidaskClub cut shares of YY from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $58.23.
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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