YY (NASDAQ:YY) Downgraded by BidaskClub to “Sell”

YY (NASDAQ:YY) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday, BidAskClub reports.

A number of other brokerages have also recently commented on YY. Nomura lifted their target price on shares of YY from $70.00 to $77.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. ValuEngine raised shares of YY from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th. Finally, Zacks Investment Research cut shares of YY from a “buy” rating to a “hold” rating in a report on Saturday, November 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $83.18.

Shares of YY stock opened at $61.63 on Friday. The firm’s fifty day simple moving average is $59.22 and its 200-day simple moving average is $59.84. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 7.43, a PEG ratio of 2.35 and a beta of 1.13. YY has a 12 month low of $51.00 and a 12 month high of $88.85. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.40 and a quick ratio of 4.40.

YY (NASDAQ:YY) last announced its earnings results on Tuesday, November 12th. The information services provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. The business had revenue of $962.90 million for the quarter, compared to analysts’ expectations of $947.24 million. YY had a net margin of 17.76% and a return on equity of 7.80%. During the same period in the previous year, the company posted $1.76 EPS. Analysts anticipate that YY will post 2.82 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Voya Investment Management LLC increased its stake in YY by 6.7% in the 3rd quarter. Voya Investment Management LLC now owns 5,264 shares of the information services provider’s stock valued at $296,000 after buying an additional 331 shares during the period. SG Americas Securities LLC increased its stake in YY by 3,542.5% in the 3rd quarter. SG Americas Securities LLC now owns 226,783 shares of the information services provider’s stock valued at $12,752,000 after buying an additional 220,557 shares during the period. Unigestion Holding SA increased its stake in YY by 89.5% in the 3rd quarter. Unigestion Holding SA now owns 7,200 shares of the information services provider’s stock valued at $405,000 after buying an additional 3,400 shares during the period. Millennium Management LLC increased its stake in YY by 310.7% in the 3rd quarter. Millennium Management LLC now owns 166,489 shares of the information services provider’s stock valued at $9,361,000 after buying an additional 125,948 shares during the period. Finally, Amundi Pioneer Asset Management Inc. increased its stake in YY by 73.3% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 336,951 shares of the information services provider’s stock valued at $23,482,000 after buying an additional 142,549 shares during the period. 50.73% of the stock is currently owned by institutional investors.

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.

Read More: Asset Allocation, Balancing Your Investments

Analyst Recommendations for YY (NASDAQ:YY)

Receive News & Ratings for YY Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for YY and related companies with MarketBeat.com's FREE daily email newsletter.