Legacy Capital Group California Inc. Invests $214,000 in Sohu.com Inc. (NASDAQ:SOHU)

Key Points

• Legacy Capital Group California Inc. acquired 16,240 shares of Sohu.com Inc. valued at approximately $214,000, indicating growing institutional interest in the company.
• Several institutional investors have made new acquisitions in Sohu.com, with notable investments made during the fourth quarter totaling over $600,000 across multiple firms.
• Analyst ratings have increased for Sohu.com, with Citigroup raising its target price from $17 to $20, and Wall Street Zen upgrading the stock from "sell" to "hold."

Legacy Capital Group California Inc. acquired a new position in shares of Sohu.com Inc. (NASDAQ:SOHU - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 16,240 shares of the information services provider's stock, valued at approximately $214,000. Legacy Capital Group California Inc. owned 0.05% of Sohu.com at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SOHU. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Sohu.com by 39.8% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 63,682 shares of the information services provider's stock worth $839,000 after acquiring an additional 18,123 shares during the period. Contravisory Investment Management Inc. purchased a new position in shares of Sohu.com during the 1st quarter worth approximately $216,000. Public Employees Retirement System of Ohio boosted its position in shares of Sohu.com by 12.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 96,096 shares of the information services provider's stock worth $1,267,000 after purchasing an additional 10,400 shares during the period. Two Sigma Advisers LP acquired a new stake in Sohu.com during the 4th quarter worth approximately $134,000. Finally, Man Group plc acquired a new stake in Sohu.com during the 4th quarter worth approximately $166,000. 33.02% of the stock is currently owned by institutional investors and hedge funds.

Sohu.com Price Performance

Shares of NASDAQ SOHU remained flat at $15.21 during midday trading on Monday. 9,600 shares of the stock were exchanged, compared to its average volume of 100,042. The stock has a market capitalization of $457.36 million, a P/E ratio of 3.65 and a beta of 0.30. Sohu.com Inc. has a 1-year low of $7.79 and a 1-year high of $17.24. The stock's 50-day simple moving average is $13.24 and its 200 day simple moving average is $12.42.

Sohu.com (NASDAQ:SOHU - Get Free Report) last released its earnings results on Monday, August 4th. The information services provider reported ($0.69) earnings per share (EPS) for the quarter. The company had revenue of $126.27 million during the quarter. Sohu.com had a net margin of 22.70% and a negative return on equity of 6.37%.

Wall Street Analysts Forecast Growth

SOHU has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Sohu.com from a "sell" rating to a "hold" rating in a research report on Wednesday, May 28th. Citigroup reiterated a "buy" rating and issued a $20.00 price objective (up previously from $17.00) on shares of Sohu.com in a research note on Monday, August 4th.

Sohu.com Company Profile

Sohu.com Limited engages in the provision of online media, video, and game products and services on personal computers (PCs) and mobile devices in China. It operates through two segments: Sohu and Changyou. The company offers online news, information, and content services through the mobile phone application Sohu News APP, mobile portal m.sohu.com, and www.sohu.com for PCs; and online video content and services through mobile phone application Sohu Video APP and tv.sohu.com, as well as ifox, a video application for PC.