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

Changyou.Com (NASDAQ:CYOU) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

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 brokerages have also recently issued reports on CYOU. BidaskClub raised shares of Changyou.Com from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th. ValuEngine raised shares of Changyou.Com from a “sell” rating to a “hold” rating in a research note on Monday, April 29th.

CYOU traded down $0.02 on Tuesday, hitting $9.19. 157,500 shares of the company’s stock were exchanged, compared to its average volume of 228,612. Changyou.Com has a fifty-two week low of $8.86 and a fifty-two week high of $22.27. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 1.76. The firm’s 50-day simple moving average is $12.05. The company has a market capitalization of $494.17 million, a PE ratio of 5.85 and a beta of 0.76.

Changyou.Com (NASDAQ:CYOU) last announced its earnings results on Monday, April 29th. The technology company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.29. Changyou.Com had a net margin of 28.48% and a return on equity of 16.03%. The company had revenue of $123.31 million for the quarter, compared to analysts’ expectations of $114.15 million. During the same quarter in the previous year, the company posted $0.55 EPS. The firm’s quarterly revenue was down 10.1% on a year-over-year basis. As a group, equities research analysts forecast that Changyou.Com will post 1.97 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Maso Capital Partners Ltd raised its position in Changyou.Com by 3.3% in the first quarter. Maso Capital Partners Ltd now owns 502,300 shares of the technology company’s stock worth $8,589,000 after acquiring an additional 15,900 shares in the last quarter. AJO LP increased its position in shares of Changyou.Com by 1,345.8% in the first quarter. AJO LP now owns 595,821 shares of the technology company’s stock valued at $10,189,000 after buying an additional 554,611 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Changyou.Com by 26.4% in the first quarter. Acadian Asset Management LLC now owns 657,235 shares of the technology company’s stock valued at $11,235,000 after buying an additional 137,215 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Changyou.Com by 3.2% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 74,132 shares of the technology company’s stock valued at $1,268,000 after buying an additional 2,300 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Changyou.Com by 48.5% in the first quarter. New York State Common Retirement Fund now owns 194,179 shares of the technology company’s stock valued at $3,320,000 after buying an additional 63,400 shares in the last quarter. 26.44% of the stock is currently owned by hedge funds and other institutional investors.

About Changyou.Com

Changyou.com Limited develops and operates online games in the People's Republic of China. The company operates through Online Game, Platform Channel, and Cinema Advertising 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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