Zacks Investment Research Downgrades Changyou.com Limited (CYOU) to Hold
Zacks Investment Research lowered shares of Changyou.com Limited (NASDAQ:CYOU) from a strong-buy rating to a hold rating in a report released on Monday morning.
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. “
A number of other brokerages also recently weighed in on CYOU. BidaskClub raised Changyou.com Limited from a buy rating to a strong-buy rating in a report on Thursday, August 3rd. Deutsche Bank AG downgraded Changyou.com Limited from a buy rating to a hold rating and set a $44.00 target price on the stock. in a report on Tuesday, August 1st. ValuEngine raised Changyou.com Limited from a buy rating to a strong-buy rating in a report on Friday, September 1st. TheStreet raised Changyou.com Limited from a c+ rating to a b rating in a report on Wednesday, August 16th. Finally, Mizuho downgraded Changyou.com Limited from a neutral rating to an underperform rating and reduced their target price for the company from $42.00 to $30.00 in a report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $38.06.
Shares of Changyou.com Limited (CYOU) traded up 1.29% during trading on Monday, reaching $40.75. The company’s stock had a trading volume of 44,804 shares. Changyou.com Limited has a 52-week low of $21.13 and a 52-week high of $44.55.
Changyou.com Limited (NASDAQ:CYOU) last issued its earnings results on Monday, July 31st. The technology company reported $1.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.44. The firm had revenue of $150.40 million for the quarter, compared to the consensus estimate of $158.05 million. Changyou.com Limited had a return on equity of 13.57% and a net margin of 30.03%. The company’s revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. On average, analysts expect that Changyou.com Limited will post $3.90 earnings per share for the current year.
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Several institutional investors and hedge funds have recently made changes to their positions in the company. TT International bought a new position in shares of Changyou.com Limited in the 2nd quarter valued at $2,515,000. ETF Managers Group LLC bought a new position in shares of Changyou.com Limited in the 2nd quarter valued at $1,115,000. Yiheng Capital LLC bought a new position in shares of Changyou.com Limited in the 2nd quarter valued at $7,491,000. GLG Partners LP bought a new position in shares of Changyou.com Limited in the 2nd quarter valued at $2,217,000. Finally, Farallon Capital Management LLC bought a new position in shares of Changyou.com Limited in the 2nd quarter valued at $6,233,000. Institutional investors own 26.54% of the company’s stock.
About Changyou.com Limited
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 primarily of PC games and mobile games; the Platform Channel segment, which consists primarily of online advertising services offered on the 17173.com Website, Internet value-added services (IVAS) offered on the Dolphin Browser and RaidCall and online card and board games offered by MoboTap, and the Cinema Advertising segment, which consists primarily of the acquisition, from operators of movie theaters, and the sale, to advertisers, of pre-film advertising slots, which are advertisements shown before the screening of a movie in a cinema theater.
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