Changyou.Com (CYOU) Upgraded to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of Changyou.Com (NASDAQ:CYOU) from a sell rating to a hold rating in a report published on Tuesday 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. “

Other research analysts have also recently issued research reports about the company. Credit Suisse Group raised Changyou.Com from an underperform rating to a neutral rating in a research note on Tuesday, July 31st. BidaskClub raised Changyou.Com from a strong sell rating to a sell rating in a research note on Saturday, September 15th. Finally, ValuEngine raised Changyou.Com from a strong sell rating to a sell rating in a research note on Friday, November 2nd. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The stock currently has an average rating of Hold and an average target price of $28.83.

Shares of CYOU opened at $17.20 on Tuesday. The firm has a market cap of $770.74 million, a PE ratio of 8.43 and a beta of 0.57. Changyou.Com has a one year low of $12.68 and a one year high of $38.14.

Changyou.Com (NASDAQ:CYOU) last announced its earnings results on Monday, November 5th. The technology company reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.59. Changyou.Com had a return on equity of 3.92% and a net margin of 8.28%. The business had revenue of $117.96 million during the quarter, compared to analysts’ expectations of $108.70 million. During the same quarter last year, the business posted ($0.09) earnings per share. The company’s quarterly revenue was down 28.8% on a year-over-year basis. Sell-side analysts predict that Changyou.Com will post 1.14 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. US Bancorp DE boosted its stake in Changyou.Com by 327.2% during the third quarter. US Bancorp DE now owns 8,357 shares of the technology company’s stock valued at $110,000 after buying an additional 6,401 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Changyou.Com by 265.1% in the 3rd quarter. Wells Fargo & Company MN now owns 12,998 shares of the technology company’s stock valued at $172,000 after purchasing an additional 9,438 shares during the period. Quantitative Systematic Strategies LLC acquired a new position in shares of Changyou.Com in the 2nd quarter valued at $249,000. Bank of Montreal Can boosted its position in shares of Changyou.Com by 13.4% in the 2nd quarter. Bank of Montreal Can now owns 64,760 shares of the technology company’s stock valued at $1,080,000 after purchasing an additional 7,656 shares during the period. Finally, Strs Ohio boosted its position in shares of Changyou.Com by 13.7% in the 3rd quarter. Strs Ohio now owns 81,841 shares of the technology company’s stock valued at $1,080,000 after purchasing an additional 9,841 shares during the period. 26.43% of the stock is owned by institutional investors and hedge funds.

Changyou.Com Company Profile

Changyou.com Limited develops and operates online games in the People's Republic of China. The company operates through Online Game, Platform Channel, and Others segments. It develops, operates, and licenses online games, including interactive online games that are accessed and played simultaneously by various game players through personal computers; and mobile games played on mobile devices.

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