Trade Report: Today: YY Inc. (YY) Now Covered by Bank of America Corp.

Today: YY Inc. (YY) Now Covered by Bank of America Corp.

Equities research analysts at Bank of America Corp. began coverage on shares of YY Inc. (NASDAQ:YY) in a 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 suggest a potential upside of 28.10% from the company’s previous close.

YY has been the subject of several other research reports. HSBC started coverage on YY in a research report on Monday, October 31st. They issued a “buy” rating and a $61.00 price objective for the company. Credit Suisse Group AG started coverage on YY in a research report on Wednesday, September 14th. They issued an “outperform” rating and a $64.00 price objective for the company. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of YY in a research report on Wednesday, October 26th. Finally, Zacks Investment Research upgraded YY from a “sell” rating to a “hold” rating in a research report on Thursday, September 8th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $61.75.

Shares of YY (NASDAQ:YY) traded down 4.3736% during midday trading on Monday, hitting $44.7914. The stock had a trading volume of 649,180 shares. YY has a one year low of $31.07 and a one year high of $65.53. The firm’s 50-day moving average price is $49.38 and its 200-day moving average price is $45.66. The firm has a market capitalization of $2.47 billion, a PE ratio of 16.3413 and a beta of 1.24.

Several large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company bought a new stake in shares of YY during the third quarter worth approximately $101,000. DekaBank Deutsche Girozentrale bought a new stake in shares of YY during the third quarter worth approximately $104,000. Seven Eight Capital LLC boosted its stake in shares of YY by 44.9% in the first quarter. Seven Eight Capital LLC now owns 1,965 shares of the company’s stock worth $121,000 after buying an additional 609 shares during the period. DIAM Co. Ltd. boosted its stake in shares of YY by 12.5% in the third quarter. DIAM Co. Ltd. now owns 2,700 shares of the company’s stock worth $141,000 after buying an additional 300 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of 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 worth $142,000 after buying an additional 1,300 shares during the period. 41.43% of the stock is owned by institutional investors.

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