YY (YY) Stock Rating Lowered by Zacks Investment Research

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YY (NASDAQ:YY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Saturday.

According to Zacks, “YY Inc. is a communication social platform, which engages users in online group activities through voice, text and video. The Company’s Platform consists of YY Client, the YY.com and Duowan.com web portals, Mobile YY and Web-based YY. YY Inc. is based in Guangzhou, the People’s Republic of China. “

YY has been the topic of a number of other research reports. CLSA set a $125.00 price target on shares of YY and gave the stock a “buy” rating in a report on Tuesday, September 25th. BidaskClub upgraded shares of YY from a “strong sell” rating to a “sell” rating in a report on Saturday, September 22nd. ValuEngine lowered shares of YY from a “sell” rating to a “strong sell” rating in a report on Friday, September 7th. Jefferies Financial Group reiterated a “buy” rating and set a $110.00 price target on shares of YY in a report on Wednesday, August 15th. Finally, Benchmark reiterated a “buy” rating and set a $140.00 price target (down previously from $168.00) on shares of YY in a report on Tuesday, August 14th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $133.29.

YY stock traded down $2.86 during mid-day trading on Friday, reaching $64.73. The company had a trading volume of 931,825 shares, compared to its average volume of 1,298,155. YY has a fifty-two week low of $56.65 and a fifty-two week high of $142.97. The firm has a market capitalization of $4.44 billion, a P/E ratio of 10.19, a P/E/G ratio of 0.44 and a beta of 0.88.

YY (NASDAQ:YY) last issued its earnings results on Monday, August 13th. The information services provider reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.22. YY had a net margin of 14.99% and a return on equity of 22.08%. The firm had revenue of $570.20 million for the quarter, compared to analyst estimates of $544.76 million. During the same quarter last year, the business posted $1.53 earnings per share. The company’s quarterly revenue was up 48.1% on a year-over-year basis. Research analysts expect that YY will post 6.69 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in YY. The Manufacturers Life Insurance Company increased its holdings in shares of YY by 15.7% in the first quarter. The Manufacturers Life Insurance Company now owns 12,120 shares of the information services provider’s stock valued at $1,275,000 after purchasing an additional 1,642 shares during the period. LPL Financial LLC increased its holdings in shares of YY by 64.1% in the first quarter. LPL Financial LLC now owns 4,649 shares of the information services provider’s stock valued at $489,000 after purchasing an additional 1,816 shares during the period. Principal Financial Group Inc. increased its holdings in shares of YY by 25.5% in the first quarter. Principal Financial Group Inc. now owns 352,804 shares of the information services provider’s stock valued at $37,115,000 after purchasing an additional 71,657 shares during the period. Allianz Asset Management GmbH increased its holdings in shares of YY by 6.0% in the first quarter. Allianz Asset Management GmbH now owns 278,864 shares of the information services provider’s stock valued at $29,337,000 after purchasing an additional 15,682 shares during the period. Finally, Atria Investments LLC increased its holdings in shares of YY by 21.1% in the second quarter. Atria Investments LLC now owns 4,691 shares of the information services provider’s stock valued at $471,000 after purchasing an additional 816 shares during the period. 60.65% of the stock is owned by institutional investors and hedge funds.

About YY

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.

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