YY Inc. (NASDAQ:YY) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of YY Inc. (NASDAQ:YY) from a strong-buy rating to a hold rating in a research report report published on Tuesday, October 17th.

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 research analysts have also issued research reports about the company. Vetr raised YY from a hold rating to a buy rating and set a $85.06 price objective for the company in a report on Tuesday, September 26th. Jefferies Group LLC reaffirmed a hold rating and set a $79.00 target price on shares of YY in a report on Wednesday, August 16th. BidaskClub lowered YY from a strong-buy rating to a buy rating in a report on Wednesday, August 30th. Citigroup Inc. lifted their target price on YY to $100.00 and gave the company a buy rating in a report on Friday, August 11th. Finally, ValuEngine lowered YY from a strong-buy rating to a buy rating in a report on Monday, August 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $74.82.

YY (NASDAQ YY) traded up $1.83 during midday trading on Tuesday, hitting $92.34. The stock had a trading volume of 833,838 shares, compared to its average volume of 1,090,275. The company has a market cap of $5,073.54, a PE ratio of 17.08, a price-to-earnings-growth ratio of 0.98 and a beta of 1.17. YY has a 12 month low of $37.81 and a 12 month high of $97.59.

YY (NASDAQ:YY) last announced its quarterly earnings data on Thursday, August 10th. The information services provider reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.19. YY had a return on equity of 39.07% and a net margin of 22.08%. The company had revenue of $384.85 million during the quarter, compared to analyst estimates of $366.35 million. During the same quarter last year, the firm posted $0.90 EPS. The firm’s revenue for the quarter was up 28.9% on a year-over-year basis. sell-side analysts expect that YY will post 5.76 earnings per share for the current year.

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Hedge funds have recently made changes to their positions in the business. Prudential Financial Inc. lifted its position in YY by 286.8% in the second quarter. Prudential Financial Inc. now owns 724,050 shares of the information services provider’s stock valued at $42,017,000 after purchasing an additional 536,850 shares during the last quarter. Morgan Stanley increased its stake in shares of YY by 245.7% during the first quarter. Morgan Stanley now owns 39,544 shares of the information services provider’s stock valued at $1,824,000 after buying an additional 28,104 shares during the period. Hillhouse Capital Management Ltd. increased its stake in shares of YY by 3.4% during the second quarter. Hillhouse Capital Management Ltd. now owns 355,057 shares of the information services provider’s stock valued at $20,604,000 after buying an additional 11,700 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of YY by 107.9% during 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. Finally, Wellington Management Group LLP increased its stake in shares of YY by 384.4% during 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. Hedge funds and other institutional investors own 56.53% of the company’s stock.

About YY

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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