YY Inc. (NASDAQ:YY) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday, July 13th.
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. “
Other equities analysts have also recently issued research reports about the stock. Bank of America Corporation reaffirmed a “buy” rating and issued a $66.00 price objective on shares of YY in a research note on Tuesday, July 4th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $56.00 price objective on shares of YY in a research note on Friday, June 16th. BidaskClub cut shares of YY from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Nomura reaffirmed a “hold” rating and issued a $54.00 price objective on shares of YY in a research note on Friday, May 12th. Finally, CICC Research cut shares of YY to a “hold” rating and set a $60.00 price objective on the stock. in a research note on Thursday, May 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $58.23.
Shares of YY (NASDAQ:YY) opened at 76.27 on Thursday. The firm has a 50 day moving average of $63.31 and a 200 day moving average of $52.19. The stock has a market cap of $4.24 billion, a P/E ratio of 16.40 and a beta of 1.16. YY has a one year low of $37.81 and a one year high of $77.64.
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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Preferred LLC purchased a new position in shares of YY during the second quarter valued at approximately $145,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of YY by 7.5% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,870 shares of the information services provider’s stock valued at $167,000 after buying an additional 200 shares during the last quarter. Smith Asset Management Group LP purchased a new position in shares of YY during the first quarter valued at approximately $206,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in YY during the first quarter valued at approximately $277,000. Finally, Tudor Investment Corp ET AL bought a new stake in YY during the first quarter valued at approximately $280,000. Institutional investors own 48.86% of the company’s stock.
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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