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 Tuesday.

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 research analysts have also issued reports about the company. HSBC Holdings plc reaffirmed a “buy” rating and issued a $89.00 target price (up from $65.00) on shares of YY in a research report on Friday, August 11th. ValuEngine lowered YY from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 7th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $79.00 target price on shares of YY in a research report on Wednesday, August 16th. Vetr lowered YY from a “hold” rating to a “sell” rating and set a $90.35 target price on the stock. in a research report on Monday. Finally, Bank of America Corporation upped their target price on YY from $89.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $74.58.

YY (NASDAQ YY) traded down 0.51% during mid-day trading on Tuesday, reaching $96.82. The company’s stock had a trading volume of 377,829 shares. YY has a 1-year low of $37.81 and a 1-year high of $97.55.

YY (NASDAQ:YY) last announced its quarterly earnings data on Thursday, August 10th. The information services provider reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.19. The firm had revenue of $384.85 million during the quarter, compared to the consensus estimate of $366.35 million. YY had a return on equity of 39.07% and a net margin of 22.08%. The business’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.90 EPS. Equities analysts forecast that YY will post $6.15 earnings per share for the current year.

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Hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Preferred LLC acquired a new position in shares of YY during the 2nd quarter valued at about $145,000. D.A. Davidson & CO. increased its holdings in shares of YY by 17.4% during the 2nd quarter. D.A. Davidson & CO. now owns 2,700 shares of the information services provider’s stock valued at $156,000 after acquiring an additional 400 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of YY by 7.5% during the 2nd 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 acquiring an additional 200 shares during the last quarter. Profund Advisors LLC acquired a new stake in YY in the 2nd quarter valued at approximately $240,000. Finally, Voya Investment Management LLC acquired a new stake in YY in the 2nd quarter valued at approximately $268,000. 55.05% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for YY (NASDAQ:YY)

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