YY (NASDAQ:YY) was upgraded by Nomura from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday.
Several other research analysts have also issued reports on YY. Vetr lowered shares of YY from a “buy” rating to a “hold” rating and set a $82.17 price target for the company. in a research report on Monday, September 25th. Bank of America upped their price objective on shares of YY from $89.00 to $101.00 and gave the stock a “buy” rating in a research note on Monday, October 2nd. ValuEngine cut shares of YY from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research cut shares of YY from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Finally, BidaskClub cut shares of YY from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company. YY presently has an average rating of “Buy” and an average price target of $90.03.
YY (YY) traded down $4.02 during trading hours on Wednesday, reaching $131.21. 1,925,300 shares of the company traded hands, compared to its average volume of 1,315,830. YY has a 52-week low of $40.17 and a 52-week high of $141.95. The firm has a market capitalization of $8,510.00, a price-to-earnings ratio of 21.40, a PEG ratio of 1.05 and a beta of 1.20.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Huntington National Bank grew its stake in shares of YY by 93.6% during the third quarter. Huntington National Bank now owns 1,218 shares of the information services provider’s stock valued at $106,000 after purchasing an additional 589 shares during the last quarter. D.A. Davidson & CO. boosted its stake in YY by 17.4% in the second 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. Cetera Advisor Networks LLC bought a new position in YY in the third quarter valued at approximately $203,000. Candriam Luxembourg S.C.A. bought a new position in YY in the third quarter valued at approximately $208,000. Finally, Boothbay Fund Management LLC bought a new position in YY in the third quarter valued at approximately $233,000. 56.87% of the stock is currently owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION NOTICE: “Nomura Upgrades YY (YY) to “Buy”” was reported by American Banking and Market News and is the property of of American Banking and Market News. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international copyright and trademark laws. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/01/17/nomura-upgrades-yy-yy-to-buy.html.
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.
