BlackRock Inc. increased its stake in shares of Changyou.Com Ltd (NASDAQ:CYOU) by 59.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 313,078 shares of the technology company’s stock after buying an additional 117,014 shares during the quarter. BlackRock Inc. owned about 0.59% of Changyou.Com worth $5,220,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new position in Changyou.Com during the second quarter worth approximately $1,891,000. Strs Ohio increased its stake in Changyou.Com by 9.1% during the second quarter. Strs Ohio now owns 72,000 shares of the technology company’s stock worth $1,200,000 after acquiring an additional 6,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Changyou.Com by 24.9% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 66,684 shares of the technology company’s stock worth $1,112,000 after acquiring an additional 13,284 shares during the last quarter. Bank of Montreal Can increased its stake in Changyou.Com by 13.4% during the second quarter. Bank of Montreal Can now owns 64,760 shares of the technology company’s stock worth $1,080,000 after acquiring an additional 7,656 shares during the last quarter. Finally, Guggenheim Capital LLC increased its stake in Changyou.Com by 14.1% during the first quarter. Guggenheim Capital LLC now owns 59,266 shares of the technology company’s stock worth $1,653,000 after acquiring an additional 7,322 shares during the last quarter. Hedge funds and other institutional investors own 26.43% of the company’s stock.
CYOU stock opened at $18.06 on Friday. The firm has a market cap of $906.75 million, a price-to-earnings ratio of 8.85 and a beta of 0.57. Changyou.Com Ltd has a 52-week low of $12.68 and a 52-week high of $38.14.
Changyou.Com (NASDAQ:CYOU) last posted its earnings results on Monday, November 5th. The technology company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.59. Changyou.Com had a return on equity of 10.11% and a net margin of 21.15%. The company had revenue of $117.96 million during the quarter, compared to analysts’ expectations of $108.70 million. During the same quarter last year, the firm earned ($0.09) earnings per share. The firm’s quarterly revenue was down 28.8% compared to the same quarter last year. Equities analysts expect that Changyou.Com Ltd will post 1.5 EPS for the current year.
CYOU has been the subject of several recent analyst reports. BidaskClub raised Changyou.Com from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 15th. Credit Suisse Group raised Changyou.Com from an “underperform” rating to a “neutral” rating in a research note on Tuesday, July 31st. Zacks Investment Research raised Changyou.Com from a “hold” rating to a “strong-buy” rating and set a $15.00 target price for the company in a research note on Monday, October 1st. Finally, ValuEngine raised Changyou.Com from a “strong sell” rating to a “sell” rating in a research note on Friday, November 2nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $28.83.
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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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