Phoenix New Media (FENG) Stock Price Up 6.4%
Phoenix New Media Ltd (NYSE:FENG) shares rose 6.4% during trading on Monday . The stock traded as high as $7.21 and last traded at $7.13. Approximately 813,800 shares traded hands during trading, an increase of 80% from the average daily volume of 452,565 shares. The stock had previously closed at $6.70.
FENG has been the subject of a number of recent research reports. Macquarie upgraded Phoenix New Media from a “neutral” rating to an “outperform” rating in a report on Tuesday, November 14th. BidaskClub lowered Phoenix New Media from a “buy” rating to a “hold” rating in a report on Wednesday, September 13th.
The company has a market capitalization of $511.28, a price-to-earnings ratio of 54.85 and a beta of 1.19. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.01.
Large investors have recently added to or reduced their stakes in the stock. Sylebra HK Co Ltd acquired a new stake in Phoenix New Media in the third quarter valued at $5,617,000. Dimensional Fund Advisors LP raised its stake in Phoenix New Media by 6.1% in the third quarter. Dimensional Fund Advisors LP now owns 195,901 shares of the information services provider’s stock valued at $1,153,000 after buying an additional 11,206 shares in the last quarter. GAM Holding AG acquired a new stake in Phoenix New Media in the second quarter valued at $395,000. State Street Corp raised its stake in Phoenix New Media by 18.7% in the second quarter. State Street Corp now owns 104,261 shares of the information services provider’s stock valued at $274,000 after buying an additional 16,457 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Phoenix New Media by 106.9% in the third quarter. Russell Investments Group Ltd. now owns 69,544 shares of the information services provider’s stock valued at $409,000 after buying an additional 35,924 shares in the last quarter. Hedge funds and other institutional investors own 14.44% of the company’s stock.
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Phoenix New Media Company Profile
Phoenix New Media Limited is a media company providing content on an integrated platform across Internet, mobile and television channels in China. The Company enables consumers to access professional news and other information, and upload text and images (UGC) on the Internet and through their mobile devices.
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