Sohu.com Inc. (NASDAQ:SOHU) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Tuesday.
Several other brokerages have also recently issued reports on SOHU. Benchmark Co. started coverage on Sohu.com in a report on Tuesday, April 18th. They set a “hold” rating on the stock. HSBC Holdings plc cut Sohu.com from a “buy” rating to a “hold” rating and upped their price objective for the stock from $48.00 to $57.00 in a report on Tuesday, May 23rd. Zacks Investment Research cut Sohu.com from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. Finally, ValuEngine raised Sohu.com from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Sohu.com has an average rating of “Hold” and an average price target of $50.10.
Shares of Sohu.com (NASDAQ:SOHU) traded up 0.36% on Tuesday, reaching $49.84. 60,544 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $46.19 and a 200 day moving average price of $42.20. Sohu.com has a one year low of $32.60 and a one year high of $50.81. The firm’s market cap is $1.94 billion.
Sohu.com (NASDAQ:SOHU) last issued its quarterly earnings data on Monday, April 24th. The information services provider reported ($1.75) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.63) by $0.12. The firm had revenue of $374.10 million for the quarter, compared to analysts’ expectations of $368.16 million. Sohu.com had a negative return on equity of 17.02% and a negative net margin of 16.83%. The firm’s revenue was down 8.3% on a year-over-year basis. During the same period last year, the company earned ($0.56) earnings per share. Analysts expect that Sohu.com will post ($5.72) EPS for the current fiscal year.
In related news, CEO Charles Zhang bought 25,000 shares of the business’s stock in a transaction dated Friday, May 12th. The shares were purchased at an average price of $40.06 per share, with a total value of $1,001,500.00. Following the transaction, the chief executive officer now owns 68,700 shares in the company, valued at approximately $2,752,122. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 21.01% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Orbis Allan Gray Ltd increased its position in Sohu.com by 4.0% in the fourth quarter. Orbis Allan Gray Ltd now owns 6,696,218 shares of the information services provider’s stock valued at $226,935,000 after buying an additional 256,795 shares in the last quarter. Macquarie Group Ltd. increased its position in Sohu.com by 0.4% in the first quarter. Macquarie Group Ltd. now owns 3,999,628 shares of the information services provider’s stock valued at $157,311,000 after buying an additional 16,040 shares in the last quarter. Renaissance Technologies LLC increased its position in Sohu.com by 9.0% in the first quarter. Renaissance Technologies LLC now owns 2,013,000 shares of the information services provider’s stock valued at $79,171,000 after buying an additional 165,700 shares in the last quarter. Baillie Gifford & Co. increased its position in Sohu.com by 49.3% in the first quarter. Baillie Gifford & Co. now owns 827,816 shares of the information services provider’s stock valued at $32,558,000 after buying an additional 273,405 shares in the last quarter. Finally, Norges Bank bought a new position in Sohu.com during the fourth quarter valued at $15,413,000. 63.06% of the stock is currently owned by hedge funds and other institutional investors.
About Sohu.com
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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