YY (NASDAQ:YY) Upgraded to “Sell” at BidaskClub

BidaskClub upgraded shares of YY (NASDAQ:YY) from a strong sell rating to a sell rating in a report published on Tuesday, BidAskClub reports.

Other equities research analysts have also issued research reports about the company. Nomura upgraded YY from a neutral rating to a buy rating and reduced their price objective for the stock from $81.00 to $77.00 in a research report on Wednesday, May 29th. Bank of America reduced their price objective on YY from $98.00 to $83.00 and set a buy rating on the stock in a research report on Tuesday, August 20th. ValuEngine upgraded YY from a hold rating to a buy rating in a research report on Wednesday, September 4th. Jefferies Financial Group began coverage on YY in a research report on Monday, August 5th. They set a buy rating and a $76.10 price objective on the stock. Finally, Benchmark restated a buy rating and set a $95.00 price objective (down previously from $106.00) on shares of YY in a research report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of Buy and an average target price of $90.90.

YY stock opened at $63.23 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.29 and a current ratio of 4.29. YY has a 52 week low of $51.00 and a 52 week high of $88.85. The stock has a market capitalization of $3.99 billion, a P/E ratio of 8.87, a price-to-earnings-growth ratio of 1.31 and a beta of 1.21. The stock has a fifty day moving average of $56.92 and a 200-day moving average of $70.53.

YY (NASDAQ:YY) last posted its quarterly earnings results on Tuesday, August 13th. The information services provider reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.13). YY had a return on equity of 9.71% and a net margin of 22.75%. The business had revenue of $917.00 million for the quarter, compared to analyst estimates of $878.97 million. During the same period last year, the firm posted $2.03 EPS. YY’s quarterly revenue was up 60.8% on a year-over-year basis. On average, research analysts forecast that YY will post 3.4 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley grew its position in shares of YY by 20.8% in the 2nd quarter. Morgan Stanley now owns 3,671,593 shares of the information services provider’s stock valued at $255,874,000 after buying an additional 631,243 shares during the last quarter. Invesco Ltd. grew its position in shares of YY by 2.8% in the 2nd quarter. Invesco Ltd. now owns 2,136,237 shares of the information services provider’s stock valued at $148,874,000 after buying an additional 57,612 shares during the last quarter. Greenwoods Asset Management Ltd grew its position in shares of YY by 80.0% in the 1st quarter. Greenwoods Asset Management Ltd now owns 1,977,179 shares of the information services provider’s stock valued at $166,103,000 after buying an additional 878,685 shares during the last quarter. Vanguard Group Inc. grew its position in shares of YY by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,550,966 shares of the information services provider’s stock valued at $108,087,000 after buying an additional 22,863 shares during the last quarter. Finally, Ward Ferry Management BVI Ltd grew its position in shares of YY by 18.6% in the 1st quarter. Ward Ferry Management BVI Ltd now owns 1,222,568 shares of the information services provider’s stock valued at $102,708,000 after buying an additional 192,077 shares during the last quarter. Hedge funds and other institutional investors own 63.94% of the company’s stock.

About YY

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; Huya platform, a live streaming platform, including online games, console games, mobile games, entertainments, sports, etc.; and Bigo, a leading short-form video social platform.

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Analyst Recommendations for YY (NASDAQ:YY)

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