California Public Employees Retirement System Cuts Stake in Sohu.com Inc. (SOHU)
California Public Employees Retirement System decreased its position in Sohu.com Inc. (NASDAQ:SOHU) by 2.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,500 shares of the company’s stock after selling 2,400 shares during the period. California Public Employees Retirement System’s holdings in Sohu.com were worth $4,049,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in SOHU. Macquarie Group Ltd. raised its stake in shares of Sohu.com by 6.5% in the second quarter. Macquarie Group Ltd. now owns 3,703,534 shares of the company’s stock worth $140,222,000 after buying an additional 226,711 shares during the period. Coronation Fund Managers Ltd. purchased a new stake in shares of Sohu.com during the second quarter worth about $44,692,000. Emerald Acquisition Ltd. purchased a new stake in shares of Sohu.com during the second quarter worth about $20,449,000. Baillie Gifford & Co. raised its stake in shares of Sohu.com by 14.2% in the second quarter. Baillie Gifford & Co. now owns 473,634 shares of the company’s stock worth $17,931,000 after buying an additional 59,034 shares during the period. Finally, Greenwoods Asset Management Ltd raised its stake in shares of Sohu.com by 20.3% in the second quarter. Greenwoods Asset Management Ltd now owns 201,600 shares of the company’s stock worth $7,633,000 after buying an additional 34,000 shares during the period. Hedge funds and other institutional investors own 64.56% of the company’s stock.
Shares of Sohu.com Inc. (NASDAQ:SOHU) traded up 1.77% during midday trading on Tuesday, hitting $35.05. The company had a trading volume of 165,706 shares. Sohu.com Inc. has a one year low of $33.84 and a one year high of $59.50. The company’s 50 day moving average is $38.03 and its 200 day moving average is $39.71. The firm’s market cap is $1.36 billion.
Sohu.com (NASDAQ:SOHU) last released its quarterly earnings results on Monday, October 24th. The company reported ($1.68) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($2.22) by $0.54. Sohu.com had a negative net margin of 11.06% and a negative return on equity of 11.13%. The business had revenue of $411 million for the quarter, compared to analyst estimates of $420.03 million. During the same quarter in the previous year, the business earned $1.27 earnings per share. The firm’s revenue was down 21.4% compared to the same quarter last year. Equities analysts forecast that Sohu.com Inc. will post ($6.10) earnings per share for the current fiscal year.
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A number of analysts recently issued reports on SOHU shares. Zacks Investment Research upgraded shares of Sohu.com from a “sell” rating to a “hold” rating in a research report on Tuesday, October 4th. Deutsche Bank AG assumed coverage on shares of Sohu.com in a report on Friday, September 9th. They issued a “buy” rating and a $53.30 price target on the stock. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $40.00 price target on shares of Sohu.com in a report on Wednesday, August 31st. Finally, TheStreet lowered shares of Sohu.com from a “hold” rating to a “sell” rating in a report on Tuesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Sohu.com has a consensus rating of “Hold” and an average price target of $45.83.
Sohu.com Company Profile
Sohu.com Inc (Sohu) is an online media, search and game service company 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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