Instinet Begins Coverage on YY Inc. (YY)

Instinet started coverage on shares of YY Inc. (NASDAQ:YY) in a research note issued to investors on Monday. The brokerage issued a neutral rating and a $47.00 price target on the stock.

Several other analysts have also recently commented on YY. J P Morgan Chase & Co restated an overweight rating on shares of YY in a report on Wednesday, October 26th. HSBC Holdings plc started coverage on YY in a report on Monday, October 31st. They issued a buy rating and a $61.00 price target for the company. Bank of America Corporation started coverage on YY in a report on Monday, November 28th. They issued a buy rating and a $60.00 price target for the company. CLSA assumed coverage on YY in a report on Monday, December 12th. They issued an outperform rating and a $48.00 price target for the company. Finally, Deutsche Bank AG reaffirmed a buy rating and issued a $60.00 price objective on shares of YY in a research note on Friday, December 16th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $54.98.

YY (NASDAQ:YY) opened at 44.48 on Monday. The stock has a market capitalization of $2.46 billion, a PE ratio of 13.87 and a beta of 1.11. YY has a 1-year low of $31.07 and a 1-year high of $63.96. The company’s 50-day moving average is $41.61 and its 200 day moving average is $46.48.

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Institutional investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale bought a new position in YY during the third quarter valued at approximately $104,000. DIAM Co. Ltd. raised its position in YY by 12.5% in the third quarter. DIAM Co. Ltd. now owns 2,700 shares of the company’s stock valued at $141,000 after buying an additional 300 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in YY by 94.9% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,670 shares of the company’s stock valued at $142,000 after buying an additional 1,300 shares during the period. Teacher Retirement System of Texas raised its position in YY by 89.6% in the second quarter. Teacher Retirement System of Texas now owns 4,277 shares of the company’s stock valued at $145,000 after buying an additional 2,021 shares during the period. Finally, Penserra Capital Management LLC raised its position in YY by 6.0% in the third quarter. Penserra Capital Management LLC now owns 2,954 shares of the company’s stock valued at $157,000 after buying an additional 168 shares during the period. 44.44% of the stock is currently owned by hedge funds and other institutional investors.

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.

5 Day Chart for NASDAQ:YY

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