YY (NASDAQ:YY) Cut to “Hold” at BidaskClub

BidaskClub lowered shares of YY (NASDAQ:YY) from a buy rating to a hold rating in a report issued on Wednesday, April 10th, BidAskClub reports.

YY has been the topic of a number of other reports. Tigress Financial restated a buy rating on shares of YY in a research note on Friday, April 5th. ValuEngine upgraded YY from a sell rating to a hold rating in a research note on Tuesday, March 12th. Zacks Investment Research cut YY from a strong-buy rating to a sell rating in a report on Saturday, March 9th. JPMorgan Chase & Co. upgraded YY from a neutral rating to an overweight rating and upped their price objective for the stock from $70.00 to $100.00 in a report on Wednesday, March 6th. Finally, TheStreet upgraded YY from a c+ rating to a b- rating in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $93.67.

Shares of NASDAQ YY traded up $0.51 during trading on Wednesday, reaching $80.96. 1,205,273 shares of the stock traded hands, compared to its average volume of 1,106,829. YY has a 52-week low of $55.55 and a 52-week high of $125.84. The stock has a market capitalization of $5.11 billion, a PE ratio of 11.35, a P/E/G ratio of 0.72 and a beta of 1.18.

YY (NASDAQ:YY) last issued its quarterly earnings results on Monday, March 4th. The information services provider reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.01. YY had a return on equity of 17.52% and a net margin of 12.76%. The firm had revenue of $674.99 million for the quarter, compared to analysts’ expectations of $641.65 million. As a group, research analysts forecast that YY will post 6.05 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in YY. Comerica Bank lifted its holdings in YY by 42.8% in the 3rd quarter. Comerica Bank now owns 3,599 shares of the information services provider’s stock worth $218,000 after buying an additional 1,079 shares during the period. BlackRock Inc. raised its position in shares of YY by 9.3% in the 3rd quarter. BlackRock Inc. now owns 2,254,782 shares of the information services provider’s stock worth $168,929,000 after acquiring an additional 191,560 shares in the last quarter. Great West Life Assurance Co. Can raised its position in shares of YY by 19.0% in the 3rd quarter. Great West Life Assurance Co. Can now owns 34,598 shares of the information services provider’s stock worth $2,594,000 after acquiring an additional 5,527 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of YY by 49.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 576,137 shares of the information services provider’s stock worth $43,150,000 after acquiring an additional 189,881 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of YY by 22.4% in the 3rd quarter. Franklin Resources Inc. now owns 32,442 shares of the information services provider’s stock worth $2,430,000 after acquiring an additional 5,929 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock.

YY Company Profile

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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Analyst Recommendations for YY (NASDAQ:YY)

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