Changyou.com Ltd. (NASDAQ:CYOU) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Changyou.com Limited is a developer and operator of online games in China. It engages in the development, operation, and licensing of massively multi-player online role-playing games, which are interactive online games that are played simultaneously by various game players. The company currently operates two multi-player online role-playing games (MMORPGs), including the in-house developed Tian Long Ba Bu and the licensed Blade Online. Changyou.com has three MMORPGs in the pipeline, which include the Duke of Mount Deer, Immortal Faith, and the Legend of the Ancient World. Based in Beijing, the People’s Republic of China, Changyou.com Limited is a subsidiary of Sohu.com Inc. “
Several other research firms have also recently issued reports on CYOU. TheStreet raised Changyou.com from a “hold” rating to a “buy” rating in a research note on Wednesday, September 14th. Deutsche Bank AG started coverage on Changyou.com in a research note on Friday, September 9th. They set a “buy” rating and a $31.70 target price on the stock. Finally, Macquarie cut Changyou.com from a “neutral” rating to an “underperform” rating and set a $16.00 target price on the stock. in a research note on Tuesday, July 26th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $21.81.
Shares of Changyou.com (NASDAQ:CYOU) opened at 28.10 on Tuesday. The stock’s 50 day moving average price is $25.65 and its 200 day moving average price is $21.11. Changyou.com has a 12 month low of $15.21 and a 12 month high of $30.28. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 8.03 and a beta of 1.14.
Changyou.com (NASDAQ:CYOU) last posted its earnings results on Monday, August 1st. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.08. Changyou.com had a return on equity of 17.22% and a net margin of 30.31%. The firm had revenue of $129 million for the quarter, compared to analysts’ expectations of $129.30 million. During the same period in the previous year, the firm earned $0.95 earnings per share. The business’s revenue was down 36.1% compared to the same quarter last year. Analysts expect that Changyou.com will post $2.37 EPS for the current year.
Several large investors have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. raised its stake in Changyou.com by 5.7% in the first quarter. UBS Asset Management Americas Inc. now owns 710,729 shares of the company’s stock valued at $13,347,000 after buying an additional 38,200 shares in the last quarter. Bogle Investment Management L P DE bought a new stake in Changyou.com during the first quarter valued at approximately $1,046,000. Penserra Capital Management LLC increased its stake in Changyou.com by 90.8% in the second quarter. Penserra Capital Management LLC now owns 6,190 shares of the company’s stock valued at $124,000 after buying an additional 2,946 shares during the period. Bank of Montreal Can bought a new stake in Changyou.com during the second quarter valued at approximately $1,194,000. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Changyou.com by 263.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 19,320 shares of the company’s stock valued at $363,000 after buying an additional 14,001 shares during the period. Institutional investors own 11.46% of the company’s stock.
Changyou.com Company Profile
Changyou.com Limited is an online game developer and operator. The Company is engaged in the development, operation and licensing of online games for personal computers (PCs) and mobile devices. The Company’s segments include Online Game segment, which consists of PC games, mobile games and Web games, and the Platform Channel segment, which consists primarily of online advertising services on the 17173.com Website, and a relatively small amount of Internet value-added services (IVAS).
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