Changyou (CYOU) Sees Strong Trading Volume After Dividend Announcement

Changyou (NASDAQ:CYOU) saw an uptick in trading volume on Thursday after the company announced a dividend. 827,672 shares were traded during mid-day trading, an increase of 287% from the previous session’s volume of 213,773 shares.The stock last traded at $29.97 and had previously closed at $27.96.

The newly announced dividend which will be paid on Thursday, April 26th. Shareholders of record on Friday, April 20th will be issued a dividend of $9.40 per share.

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A number of brokerages have commented on CYOU. Zacks Investment Research raised Changyou from a “strong sell” rating to a “hold” rating in a report on Tuesday. BidaskClub raised Changyou from a “strong sell” rating to a “sell” rating in a report on Friday, February 2nd. Morgan Stanley began coverage on Changyou in a report on Wednesday, March 28th. They set a “sell” rating and a $28.00 target price for the company. Finally, ValuEngine cut Changyou from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Three analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $38.26.

The stock has a market cap of $1,473.99, a PE ratio of 14.44, a P/E/G ratio of 0.71 and a beta of 0.87.

Changyou (NASDAQ:CYOU) last posted its quarterly earnings results on Monday, January 29th. The technology company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.17). The company had revenue of $144.50 million during the quarter, compared to analysts’ expectations of $149.95 million. Changyou had a net margin of 18.76% and a return on equity of 8.64%. Changyou’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the company earned $0.75 earnings per share. equities research analysts predict that Changyou will post 2.54 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Millennium Management LLC grew its position in shares of Changyou by 19.7% in the fourth quarter. Millennium Management LLC now owns 132,272 shares of the technology company’s stock valued at $4,819,000 after purchasing an additional 21,796 shares in the last quarter. HBK Investments L P grew its position in shares of Changyou by 78.8% in the fourth quarter. HBK Investments L P now owns 15,994 shares of the technology company’s stock valued at $583,000 after purchasing an additional 7,049 shares in the last quarter. Two Sigma Advisers LP grew its position in shares of Changyou by 6.8% in the fourth quarter. Two Sigma Advisers LP now owns 269,899 shares of the technology company’s stock valued at $9,832,000 after purchasing an additional 17,200 shares in the last quarter. York Capital Management Global Advisors LLC purchased a new stake in shares of Changyou in the fourth quarter valued at approximately $19,546,000. Finally, Goldman Sachs Group Inc. grew its position in shares of Changyou by 113.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 12,289 shares of the technology company’s stock valued at $448,000 after purchasing an additional 106,131 shares in the last quarter. Institutional investors and hedge funds own 32.87% of the company’s stock.

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Changyou Company Profile

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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