Yandex NV (NASDAQ:YNDX) Sees Significant Decline in Short Interest

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Yandex NV (NASDAQ:YNDX) saw a significant decrease in short interest in June. As of June 30th, there was short interest totalling 1,523,000 shares, a decrease of 15.2% from the May 30th total of 1,796,300 shares. Based on an average trading volume of 2,200,000 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.6% of the company’s shares are short sold.

Several hedge funds have recently bought and sold shares of YNDX. Comerica Bank purchased a new position in Yandex in the 4th quarter valued at about $440,000. PNC Financial Services Group Inc. lifted its holdings in Yandex by 91.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 14,296 shares of the information services provider’s stock valued at $391,000 after purchasing an additional 6,812 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Yandex by 1.3% in the 4th quarter. Bank of New York Mellon Corp now owns 2,528,717 shares of the information services provider’s stock valued at $69,160,000 after purchasing an additional 32,250 shares in the last quarter. Advisor Group Inc. lifted its holdings in Yandex by 26.4% in the 4th quarter. Advisor Group Inc. now owns 18,745 shares of the information services provider’s stock valued at $511,000 after purchasing an additional 3,912 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Yandex by 164.5% in the 4th quarter. Northern Trust Corp now owns 466,869 shares of the information services provider’s stock valued at $12,769,000 after purchasing an additional 290,332 shares in the last quarter. 65.94% of the stock is owned by institutional investors.

YNDX stock opened at $40.33 on Friday. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $13.10 billion, a PE ratio of 42.45 and a beta of 1.96. The stock’s 50-day moving average price is $38.05. Yandex has a fifty-two week low of $24.90 and a fifty-two week high of $41.02.

Yandex (NASDAQ:YNDX) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $16.35 earnings per share for the quarter, topping the consensus estimate of $0.23 by $16.12. The company had revenue of $37.28 billion during the quarter, compared to analysts’ expectations of $36.03 billion. Yandex had a return on equity of 11.81% and a net margin of 36.20%. Yandex’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $11.96 earnings per share. As a group, sell-side analysts anticipate that Yandex will post 1.13 earnings per share for the current fiscal year.

Several brokerages have issued reports on YNDX. OTR Global began coverage on Yandex in a report on Thursday, June 27th. They issued a “positive” rating for the company. VTB Capital upgraded Yandex from a “hold” rating to a “buy” rating in a report on Tuesday, June 11th. ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a report on Monday, May 13th. BidaskClub raised Yandex from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 14th. Finally, HSBC set a $122.00 price objective on Tiffany & Co. and gave the stock a “buy” rating in a research report on Friday, June 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $43.60.

About Yandex

Yandex N.V., an Internet and technology company, operates an Internet search engine in Russia and internationally. The company offers search, location-based, personalized, and mobile services that enable users to find information, and communicate and connect over the Internet from desktops and mobile devices.

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