Equities research analysts at Bank of America Corp. initiated coverage on shares of YY Inc. (NASDAQ:YY) in a research report issued on Monday. The firm set a “buy” rating and a $60.00 price target on the stock. Bank of America Corp.’s price objective would indicate a potential upside of 33.33% from the company’s current price.

A number of other research analysts have also weighed in on YY. JPMorgan Chase & Co. initiated coverage on shares of YY in a research note on Wednesday, August 31st. They issued an “overweight” rating and a $62.00 target price on the stock. Zacks Investment Research raised shares of YY from a “sell” rating to a “hold” rating in a research note on Thursday, September 8th. Credit Suisse Group AG initiated coverage on shares of YY in a research note on Wednesday, September 14th. They issued an “outperform” rating and a $64.00 target price on the stock. Finally, HSBC initiated coverage on shares of YY in a research note on Monday, October 31st. They issued a “buy” rating and a $61.00 target price on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $61.75.

YY (NASDAQ:YY) opened at 45.00 on Monday. The stock has a 50 day moving average price of $0.00 and a 200-day moving average price of $0.00. YY has a 1-year low of $31.07 and a 1-year high of $65.53.

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Several hedge funds have recently made changes to their positions in the company. Quantitative Investment Management LLC purchased a new stake in shares of YY during the second quarter worth about $382,000. Quantbot Technologies LP purchased a new stake in shares of YY during the second quarter worth about $779,000. Mizuho Trust & Banking Co. Ltd. increased its stake in shares of YY by 1,364.4% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 65,900 shares of the company’s stock worth $2,232,000 after buying an additional 61,400 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of YY by 62.2% in the second quarter. Bank of New York Mellon Corp now owns 28,442 shares of the company’s stock worth $964,000 after buying an additional 10,907 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of YY by 298.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 85,794 shares of the company’s stock worth $2,906,000 after buying an additional 64,264 shares in the last quarter. Institutional investors and hedge funds own 41.43% of the company’s stock.

YY Company Profile

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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