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

Yandex NV (NASDAQ:YNDX) was the target of a large decline in short interest in June. As of June 30th, there was short interest totalling 1,523,000 shares, a decline of 15.2% from the May 30th total of 1,796,300 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,200,000 shares, the days-to-cover ratio is currently 0.7 days.

Shares of YNDX stock opened at $40.33 on Friday. The company has a fifty day moving average of $38.05. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.05. The firm has a market cap of $13.10 billion, a price-to-earnings ratio of 42.45 and a beta of 1.96. Yandex has a one year low of $24.90 and a one year high of $41.02.

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

A number of institutional investors have recently bought and sold shares of the business. Hound Partners LLC boosted its stake in Yandex by 316.7% in the fourth quarter. Hound Partners LLC now owns 4,164,816 shares of the information services provider’s stock worth $113,908,000 after purchasing an additional 3,165,321 shares in the last quarter. American Century Companies Inc. boosted its stake in Yandex by 17.8% in the fourth quarter. American Century Companies Inc. now owns 3,600,711 shares of the information services provider’s stock worth $98,479,000 after purchasing an additional 544,701 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Yandex by 0.9% in the first quarter. Wells Fargo & Company MN now owns 3,399,443 shares of the information services provider’s stock worth $116,737,000 after purchasing an additional 29,199 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Yandex by 21.8% in the first quarter. Neuberger Berman Group LLC now owns 2,912,723 shares of the information services provider’s stock worth $100,023,000 after purchasing an additional 520,736 shares in the last quarter. Finally, Norges Bank acquired a new position in Yandex in the fourth quarter worth $72,785,000. 65.94% of the stock is currently owned by institutional investors.

YNDX has been the topic of several recent analyst reports. Bank of America set a $47.00 price target on Yandex and gave the company a “buy” rating in a research note on Tuesday, March 19th. HSBC set a $122.00 price target on Tiffany & Co. and gave the company a “buy” rating in a research note on Friday, June 14th. Renaissance Capital raised Yandex from a “hold” rating to a “buy” rating in a research note on Tuesday, June 11th. VTB Capital raised Yandex from a “hold” rating to a “buy” rating in a research note on Tuesday, June 11th. Finally, BidaskClub raised Yandex from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average 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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