Macquarie Downgrades Changyou.com Ltd. (CYOU) to Underperform
Changyou.com Ltd. (NASDAQ:CYOU) was downgraded by stock analysts at Macquarie from a “neutral” rating to an “underperform” rating in a research note issued on Tuesday. They presently have a $16.00 price objective on the stock. Macquarie’s price objective would indicate a potential downside of 40.59% from the stock’s current price.
Several other research analysts have also issued reports on the company. Zacks Investment Research lowered Changyou.com from a “buy” rating to a “hold” rating in a research report on Monday, July 25th. Brean Capital restated a “hold” rating on shares of Changyou.com in a research report on Tuesday, April 26th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $22.45.
Changyou.com (NASDAQ:CYOU) traded down 3.96% on Tuesday, reaching $26.93. The company had a trading volume of 798,814 shares. The company has a market capitalization of $1.41 billion, a P/E ratio of 7.70 and a beta of 1.14. The stock’s 50-day moving average is $26.01 and its 200-day moving average is $21.21. Changyou.com has a 52 week low of $15.21 and a 52 week high of $30.28.
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Changyou.com (NASDAQ:CYOU) last announced 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 business earned $129 million during the quarter, compared to analyst estimates of $129.30 million. During the same quarter in the previous year, the business earned $0.95 earnings per share. The company’s revenue for the quarter was down 36.1% compared to the same quarter last year. Equities research analysts forecast that Changyou.com will post $2.37 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. Numeric Investors LLC acquired a new position in shares of Changyou.com during the second quarter worth approximately $320,000. Jane Street Group LLC increased its position in shares of Changyou.com by 11.4% in the second quarter. Jane Street Group LLC now owns 14,651 shares of the company’s stock worth $294,000 after buying an additional 1,502 shares during the period. State Street Corp acquired a new position in shares of Changyou.com during the second quarter worth approximately $697,000. GAM Holding AG increased its position in shares of Changyou.com by 100.0% in the second quarter. GAM Holding AG now owns 20,000 shares of the company’s stock worth $395,000 after buying an additional 10,000 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of Changyou.com by 102.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 39,173 shares of the company’s stock worth $785,000 after buying an additional 19,853 shares during the period. Hedge funds and other institutional investors own 11.46% of the company’s stock.
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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