Somerset Capital Management LLP Reduces Stake in Yandex NV (YNDX)
Somerset Capital Management LLP lowered its position in shares of Yandex NV (NASDAQ:YNDX) by 0.3% in the fourth quarter, Holdings Channel reports. The fund owned 3,408,627 shares of the information services provider’s stock after selling 9,533 shares during the period. Yandex accounts for approximately 22.7% of Somerset Capital Management LLP’s investment portfolio, making the stock its 2nd largest holding. Somerset Capital Management LLP’s holdings in Yandex were worth $112,628,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in YNDX. Cerebellum GP LLC bought a new stake in Yandex in the fourth quarter valued at about $129,000. Robeco Institutional Asset Management B.V. bought a new stake in Yandex in the fourth quarter valued at about $147,000. Raymond James Trust N.A. bought a new stake in Yandex in the fourth quarter valued at about $206,000. Fieldpoint Private Securities LLC bought a new stake in Yandex in the third quarter valued at about $273,000. Finally, Bessemer Group Inc. bought a new stake in Yandex in the fourth quarter valued at about $301,000. Institutional investors and hedge funds own 65.22% of the company’s stock.
Yandex NV (NASDAQ:YNDX) opened at $35.89 on Friday. Yandex NV has a 52 week low of $21.40 and a 52 week high of $39.67. The company has a quick ratio of 4.47, a current ratio of 4.47 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $11,467.28, a PE ratio of 59.66, a price-to-earnings-growth ratio of 0.85 and a beta of 2.84.
A number of equities research analysts recently commented on YNDX shares. Zacks Investment Research downgraded Yandex from a “hold” rating to a “sell” rating in a report on Friday, October 20th. Deutsche Bank upped their price objective on Yandex from $38.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. TheStreet downgraded Yandex from a “b-” rating to a “c” rating in a report on Tuesday, October 24th. VTB Capital downgraded Yandex from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, Bank of America upped their price objective on Yandex from $38.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Yandex has an average rating of “Buy” and a consensus price target of $38.90.
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Yandex N.V. is an Internet and technology company, and operates Internet search engine. The Company’s segments include Search and Portal, E-commerce, Taxi, Classifieds and Experimental businesses. The Company’s Search and Portal segment offers a range of services in Russia, Ukraine, Belarus and Kazakhstan, among which are search, location-based, personalized and mobile services, that enable the Company’s users to find relevant and objective information to communicate and connect over the Internet, from both their desktops and mobile devices.
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