YY Inc. (YY) Cut to Buy at ValuEngine

YY Inc. (NASDAQ:YY) was downgraded by investment analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday, August 7th.

A number of other brokerages also recently weighed in on YY. Nomura restated a “hold” rating and set a $54.00 price objective on shares of YY in a research report on Friday, May 12th. Vetr downgraded shares of YY from a “strong-buy” rating to a “buy” rating and set a $57.51 price objective on the stock. in a research report on Monday, May 8th. BidaskClub downgraded shares of YY from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Jefferies Group LLC restated a “hold” rating and set a $56.00 price objective on shares of YY in a research report on Friday, June 16th. Finally, TheStreet upgraded shares of YY from a “c” rating to a “b-” rating in a research report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $66.53.

YY (NASDAQ:YY) traded up 3.14% during midday trading on Monday, hitting $73.69. 2,199,320 shares of the company were exchanged. YY has a 1-year low of $37.81 and a 1-year high of $83.00. The stock has a 50 day moving average of $68.49 and a 200-day moving average of $54.57.

YY (NASDAQ:YY) last posted its quarterly earnings results on Thursday, August 10th. The information services provider reported $1.53 EPS for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.19. YY had a net margin of 22.08% and a return on equity of 39.07%. The firm had revenue of $384.85 million for the quarter, compared to analysts’ expectations of $366.35 million. During the same quarter in the prior year, the company posted $0.90 earnings per share. The business’s revenue for the quarter was up 28.9% on a year-over-year basis. On average, equities analysts expect that YY will post $6.08 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: “YY Inc. (YY) Cut to Buy at ValuEngine” was originally posted by Community Financial News and is the property of of Community Financial News. If you are reading this story on another domain, it was illegally copied and republished in violation of international copyright and trademark laws. The legal version of this story can be viewed at https://www.com-unik.info/2017/08/19/yy-inc-yy-lowered-to-buy-at-valuengine-updated.html.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased 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 last quarter. Wellington Management Group LLP increased its stake in shares of 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 last quarter. BNP Paribas Arbitrage SA increased its stake in shares of YY by 1,014.9% in the first quarter. BNP Paribas Arbitrage SA now owns 82,449 shares of the information services provider’s stock valued at $3,802,000 after buying an additional 75,054 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of YY by 72.3% in the first quarter. Acadian Asset Management LLC now owns 691,632 shares of the information services provider’s stock valued at $31,890,000 after buying an additional 290,272 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of YY by 8.5% in the first quarter. Bank of New York Mellon Corp now owns 39,241 shares of the information services provider’s stock valued at $1,809,000 after buying an additional 3,062 shares during the last quarter. Institutional investors and hedge funds own 50.92% 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for YY (NASDAQ:YY)

What are top analysts saying about YY Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for YY Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit