Zacks Investment Research upgraded shares of Changyou.Com (NASDAQ:CYOU) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

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 research firms also recently weighed in on CYOU. BidaskClub downgraded shares of Changyou.Com from a sell rating to a strong sell rating in a research report on Friday, July 13th. ValuEngine raised shares of Changyou.Com from a strong sell rating to a sell rating in a research report on Friday, November 2nd. Finally, Credit Suisse Group raised shares of Changyou.Com from an underperform rating to a neutral rating in a research report on Tuesday, July 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $28.83.

NASDAQ:CYOU traded up $0.06 on Tuesday, reaching $18.06. 278,597 shares of the stock traded hands, compared to its average volume of 191,780. The company has a market capitalization of $934.69 million, a PE ratio of 8.78 and a beta of 0.57. Changyou.Com has a 1-year low of $12.68 and a 1-year high of $38.14.

Changyou.Com (NASDAQ:CYOU) last released its earnings results on Monday, November 5th. The technology company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.59. The business had revenue of $117.96 million during the quarter, compared to the consensus estimate of $108.70 million. Changyou.Com had a net margin of 21.15% and a return on equity of 10.11%. The company’s revenue for the quarter was down 28.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.09) EPS. As a group, research analysts expect that Changyou.Com will post 1.5 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in CYOU. Acadian Asset Management LLC grew its position in shares of Changyou.Com by 184.4% during the 3rd quarter. Acadian Asset Management LLC now owns 322,637 shares of the technology company’s stock worth $4,259,000 after buying an additional 209,203 shares during the period. Millennium Management LLC grew its position in shares of Changyou.Com by 273.9% during the 2nd quarter. Millennium Management LLC now owns 278,118 shares of the technology company’s stock worth $4,636,000 after buying an additional 203,736 shares during the period. BlackRock Inc. grew its position in shares of Changyou.Com by 59.7% during the 2nd quarter. BlackRock Inc. now owns 313,078 shares of the technology company’s stock worth $5,220,000 after buying an additional 117,014 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of Changyou.Com by 50.0% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 170,724 shares of the technology company’s stock worth $2,846,000 after buying an additional 56,926 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Changyou.Com by 3.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,022,900 shares of the technology company’s stock worth $17,052,000 after buying an additional 33,300 shares during the period. 26.43% of the stock is owned by 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 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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