Prudential Financial Inc. lessened its stake in Changyou.Com Ltd (NASDAQ:CYOU) by 48.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,800 shares of the technology company’s stock after selling 36,000 shares during the period. Prudential Financial Inc. owned about 0.07% of Changyou.Com worth $1,537,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. UBS Group AG boosted its holdings in Changyou.Com by 39.5% in the first quarter. UBS Group AG now owns 4,258 shares of the technology company’s stock worth $119,000 after purchasing an additional 1,205 shares during the period. APG Asset Management N.V. acquired a new position in shares of Changyou.Com during the third quarter valued at $246,000. Shell Asset Management Co. boosted its holdings in shares of Changyou.Com by 5.0% during the second quarter. Shell Asset Management Co. now owns 6,882 shares of the technology company’s stock valued at $267,000 after acquiring an additional 330 shares during the period. Hikari Power Ltd acquired a new stake in Changyou.Com in the second quarter worth about $284,000. Finally, Pictet Asset Management Ltd. acquired a new stake in Changyou.Com in the third quarter worth about $289,000. Institutional investors and hedge funds own 29.29% of the company’s stock.
Shares of Changyou.Com Ltd (NASDAQ:CYOU) traded up $0.75 during trading on Friday, reaching $36.43. The company’s stock had a trading volume of 184,942 shares, compared to its average volume of 160,153. The company has a market capitalization of $1,868.78, a PE ratio of 16.87 and a beta of 1.11. Changyou.Com Ltd has a 52-week low of $21.13 and a 52-week high of $44.55.
Several equities research analysts recently weighed in on CYOU shares. Credit Suisse Group assumed coverage on shares of Changyou.Com in a report on Tuesday, October 3rd. They issued a “neutral” rating and a $40.30 price objective for the company. Deutsche Bank upgraded shares of Changyou.Com from a “hold” rating to a “buy” rating in a research report on Monday, October 30th. Zacks Investment Research downgraded Changyou.Com from a “strong-buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, ValuEngine upgraded Changyou.Com from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $38.06.
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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 primarily of PC games and mobile games; the Platform Channel segment, which consists primarily of online advertising services offered on the 17173.com Website, Internet value-added services (IVAS) offered on the Dolphin Browser and RaidCall and online card and board games offered by MoboTap, and the Cinema Advertising segment, which consists primarily of the acquisition, from operators of movie theaters, and the sale, to advertisers, of pre-film advertising slots, which are advertisements shown before the screening of a movie in a cinema theater.
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