Phoenix New Media (FENG) PT Raised to $8.10
Phoenix New Media (NYSE:FENG) had its target price boosted by Macquarie from $7.60 to $8.10 in a research note published on Thursday morning. They currently have an outperform rating on the information services provider’s stock.
Separately, ValuEngine upgraded shares of Phoenix New Media from a sell rating to a hold rating in a research report on Thursday, May 17th.
FENG stock opened at $4.35 on Thursday. Phoenix New Media has a 12-month low of $3.72 and a 12-month high of $8.14. The stock has a market capitalization of $320.47 million, a price-to-earnings ratio of 443.00 and a beta of 1.67. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.19 and a current ratio of 2.19.
Several hedge funds have recently added to or reduced their stakes in the business. Park West Asset Management LLC purchased a new position in shares of Phoenix New Media during the first quarter valued at about $1,728,000. BlackRock Inc. increased its position in shares of Phoenix New Media by 125.6% during the fourth quarter. BlackRock Inc. now owns 511,348 shares of the information services provider’s stock valued at $3,318,000 after buying an additional 284,672 shares during the period. Guggenheim Capital LLC purchased a new position in shares of Phoenix New Media during the fourth quarter valued at about $576,000. Deutsche Bank AG increased its position in shares of Phoenix New Media by 6,068.4% during the fourth quarter. Deutsche Bank AG now owns 74,267 shares of the information services provider’s stock valued at $481,000 after buying an additional 73,063 shares during the period. Finally, Two Sigma Advisers LP increased its position in shares of Phoenix New Media by 277.6% during the fourth quarter. Two Sigma Advisers LP now owns 96,306 shares of the information services provider’s stock valued at $625,000 after buying an additional 70,800 shares during the period. Hedge funds and other institutional investors own 14.85% of the company’s stock.
About Phoenix New Media
Phoenix New Media Limited provides content on an integrated Internet platform in the People's Republic of China. The company operates in two segments, Net Advertising Services and Paid Services. It offers content and services through three channels, including PC channel, mobile channel, and telecom operators, as well as transmits content to TV viewers, primarily through Phoenix TV.
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