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

Zacks Investment Research upgraded shares of Changyou.Com (NASDAQ:CYOU) from a hold rating to a buy rating in a research note released on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $11.00 price objective on the technology company’s stock.

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 also recently weighed in on CYOU. Jefferies Financial Group initiated coverage on Changyou.Com in a research note on Monday, August 5th. They issued an underperform rating and a $6.90 price objective for the company. BidaskClub raised Changyou.Com from a sell rating to a hold rating in a research note on Tuesday. Finally, ValuEngine downgraded Changyou.Com from a sell rating to a strong sell rating in a research note on Wednesday, September 25th.

Shares of CYOU traded down $0.07 during mid-day trading on Tuesday, hitting $9.55. The company’s stock had a trading volume of 95,876 shares, compared to its average volume of 254,866. The firm has a 50-day simple moving average of $7.55 and a 200 day simple moving average of $11.97. The firm has a market capitalization of $508.54 million, a P/E ratio of 6.08 and a beta of 0.92. Changyou.Com has a 1-year low of $5.43 and a 1-year high of $22.27.

Changyou.Com (NASDAQ:CYOU) last posted its quarterly earnings results on Monday, August 5th. The technology company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.11). The business had revenue of $118.71 million during the quarter, compared to analyst estimates of $111.92 million. Changyou.Com had a net margin of 24.82% and a return on equity of 16.25%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 earnings per share. Sell-side analysts anticipate that Changyou.Com will post 1.98 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CYOU. AJO LP increased its stake in Changyou.Com by 1,345.8% in the 1st quarter. AJO LP now owns 595,821 shares of the technology company’s stock valued at $10,189,000 after purchasing an additional 554,611 shares in the last quarter. Renaissance Technologies LLC increased its position in Changyou.Com by 24.9% during the second quarter. Renaissance Technologies LLC now owns 1,218,715 shares of the technology company’s stock worth $11,712,000 after buying an additional 242,700 shares in the last quarter. Mackenzie Financial Corp increased its position in Changyou.Com by 86.0% during the second quarter. Mackenzie Financial Corp now owns 209,900 shares of the technology company’s stock worth $2,017,000 after buying an additional 97,069 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in Changyou.Com during the second quarter worth $817,000. Finally, Morgan Stanley increased its position in Changyou.Com by 55.7% during the second quarter. Morgan Stanley now owns 196,722 shares of the technology company’s stock worth $1,891,000 after buying an additional 70,343 shares in the last quarter. 26.24% of the stock is 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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