Pictet Asset Management Ltd. bought a new position in shares of Sohu.com Inc. (NASDAQ:SOHU) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,800 shares of the information services provider’s stock, valued at approximately $643,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Macquarie Group Ltd. increased its stake in shares of Sohu.com by 3.7% during the second quarter. Macquarie Group Ltd. now owns 4,149,467 shares of the information services provider’s stock worth $186,983,000 after purchasing an additional 149,839 shares during the period. Renaissance Technologies LLC increased its stake in shares of Sohu.com by 19.2% during the second quarter. Renaissance Technologies LLC now owns 2,398,900 shares of the information services provider’s stock worth $108,094,000 after purchasing an additional 385,900 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Sohu.com by 38.9% during the second quarter. Dimensional Fund Advisors LP now owns 372,614 shares of the information services provider’s stock worth $16,795,000 after purchasing an additional 104,339 shares during the period. Public Sector Pension investment Board bought a new position in shares of Sohu.com during the second quarter worth approximately $15,771,000. Finally, Bank of America Corp DE increased its stake in shares of Sohu.com by 5.8% during the first quarter. Bank of America Corp DE now owns 308,683 shares of the information services provider’s stock worth $12,141,000 after purchasing an additional 16,970 shares during the period. Institutional investors own 63.81% of the company’s stock.
A number of brokerages have recently weighed in on SOHU. Morgan Stanley upgraded Sohu.com from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $36.00 to $60.00 in a research note on Tuesday, August 1st. Zacks Investment Research downgraded Sohu.com from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 31st. BidaskClub downgraded Sohu.com from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. TheStreet raised Sohu.com from a “d+” rating to a “c-” rating in a research report on Friday, August 18th. Finally, Deutsche Bank AG downgraded Sohu.com from a “buy” rating to a “hold” rating and set a $57.00 price target on the stock. in a research report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $58.00.
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Shares of Sohu.com Inc. (SOHU) opened at $53.67 on Wednesday. Sohu.com Inc. has a twelve month low of $32.60 and a twelve month high of $70.86.
Sohu.com (NASDAQ:SOHU) last issued its earnings results on Friday, October 27th. The information services provider reported ($2.38) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.24) by ($1.14). Sohu.com had a negative net margin of 18.51% and a negative return on equity of 21.72%. The business had revenue of $516.10 million during the quarter, compared to analyst estimates of $493.47 million. During the same period in the prior year, the business posted ($1.68) EPS. The company’s revenue for the quarter was up 25.7% compared to the same quarter last year. research analysts forecast that Sohu.com Inc. will post -7.47 EPS for the current fiscal year.
Sohu.com Company Profile
Sohu.com Inc (Sohu) is an online media, search and game service company, which is engaged in providing online products and services on personal computers (PCs) and mobile devices in the People’s Republic of China (the PRC). The Company operates through three segments: the Sohu segment; the Sogou segment, and the Changyou segment.
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