Zacks Investment Research cut shares of Changyou.com Ltd. (NASDAQ:CYOU) from a strong-buy rating to a hold rating in a report issued on Tuesday.

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. “

A number of other equities research analysts have also recently issued reports on CYOU. Macquarie cut Changyou.com from a neutral rating to an underperform rating and set a $16.00 price objective on the stock. in a research note on Tuesday, July 26th. Deutsche Bank AG assumed coverage on Changyou.com in a research note on Friday, September 9th. They issued a buy rating and a $31.70 price objective on the stock. Finally, TheStreet upgraded Changyou.com from a hold rating to a buy rating in a research note on Wednesday, September 14th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Changyou.com currently has a consensus rating of Hold and an average price target of $21.81.

Shares of Changyou.com (NASDAQ:CYOU) opened at 27.46 on Tuesday. The firm has a market capitalization of $1.43 billion, a P/E ratio of 7.85 and a beta of 1.14. Changyou.com has a 1-year low of $15.21 and a 1-year high of $30.28. The stock has a 50 day moving average of $25.46 and a 200-day moving average of $21.06.

Changyou.com (NASDAQ:CYOU) last issued its quarterly earnings results on Monday, August 1st. The company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.08. The company had revenue of $129 million for the quarter, compared to the consensus estimate of $129.30 million. Changyou.com had a net margin of 30.31% and a return on equity of 17.22%. The firm’s quarterly revenue was down 36.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 EPS. On average, equities analysts expect that Changyou.com will post $2.37 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of CYOU. Jane Street Group LLC raised its stake 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 valued at $294,000 after buying an additional 1,502 shares in the last quarter. Penserra Capital Management LLC raised its stake in shares of Changyou.com by 90.8% in the second quarter. Penserra Capital Management LLC now owns 6,190 shares of the company’s stock valued at $124,000 after buying an additional 2,946 shares in the last quarter. GAM Holding AG raised its stake 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 valued at $395,000 after buying an additional 10,000 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Changyou.com by 65.2% in the first quarter. Geode Capital Management LLC now owns 27,660 shares of the company’s stock valued at $519,000 after buying an additional 10,914 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Changyou.com by 263.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 19,320 shares of the company’s stock valued at $363,000 after buying an additional 14,001 shares in the last quarter. 11.46% of the stock is owned by institutional investors and hedge funds.

Changyou.com Company Profile

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).

5 Day Chart for NASDAQ:CYOU

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