YY Inc. (NASDAQ:YY) Downgraded by Zacks Investment Research to Hold

YY Inc. (NASDAQ:YY) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a 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. “

YY has been the topic of a number of other research reports. TheStreet raised YY from a “c” rating to a “b-” rating in a research note on Wednesday, May 3rd. BOCOM International Holdings began coverage on YY in a research report on Monday, May 8th. They issued a “buy” rating and a $64.00 target price on the stock. Vetr downgraded YY from a “strong-buy” rating to a “buy” rating and set a $57.51 price target for the company. in a report on Monday, May 8th. Benchmark Co. began coverage on YY in a report on Tuesday, April 18th. They issued a “buy” rating and a $60.00 price target for the company. Finally, BidaskClub downgraded YY from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $58.23.

YY (NASDAQ YY) traded up 4.59% during midday trading on Thursday, hitting $70.69. The company’s stock had a trading volume of 1,419,127 shares. The company has a market capitalization of $3.93 billion, a P/E ratio of 15.15 and a beta of 1.12. YY has a one year low of $37.81 and a one year high of $71.45.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Boston Partners raised its position in YY by 244.3% in the first quarter. Boston Partners now owns 1,316,938 shares of the information services provider’s stock valued at $60,724,000 after buying an additional 934,434 shares during the period. Wellington Management Group LLP raised its position in YY by 384.4% in the first quarter. Wellington Management Group LLP now owns 543,305 shares of the information services provider’s stock valued at $25,052,000 after buying an additional 431,155 shares during the period. Ward Ferry Management BVI Ltd raised its position in YY by 57.4% in the first quarter. Ward Ferry Management BVI Ltd now owns 902,800 shares of the information services provider’s stock valued at $41,628,000 after buying an additional 329,400 shares during the period. Credit Agricole S A raised its position in YY by 235.5% in the first quarter. Credit Agricole S A now owns 450,180 shares of the information services provider’s stock valued at $20,757,000 after buying an additional 316,000 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in YY by 107.9% in the first quarter. Goldman Sachs Group Inc. now owns 583,091 shares of the information services provider’s stock valued at $26,886,000 after buying an additional 302,599 shares during the period. Institutional investors and hedge funds own 47.53% 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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