BidaskClub Lowers Phoenix New Media Limited (FENG) to Hold

BidaskClub lowered shares of Phoenix New Media Limited (NYSE:FENG) from a buy rating to a hold rating in a research note published on Wednesday morning.

Phoenix New Media Limited (FENG) traded down 1.07% during trading on Wednesday, hitting $5.56. 2,428,877 shares of the company’s stock were exchanged. Phoenix New Media Limited has a 52-week low of $2.43 and a 52-week high of $5.98. The firm has a 50 day moving average price of $3.94 and a 200 day moving average price of $3.38. The company has a market cap of $428.29 million, a price-to-earnings ratio of 41.49 and a beta of 1.01.

Phoenix New Media Limited (NYSE:FENG) last announced its earnings results on Tuesday, August 15th. The information services provider reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.09. Phoenix New Media Limited had a net margin of 4.39% and a return on equity of 3.00%. The business had revenue of $58.00 million for the quarter, compared to the consensus estimate of $54.49 million. During the same quarter in the prior year, the firm posted $0.01 earnings per share. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, equities research analysts predict that Phoenix New Media Limited will post ($0.05) earnings per share for the current year.

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Several institutional investors and hedge funds have recently made changes to their positions in FENG. Russell Investments Group Ltd. raised its stake in shares of Phoenix New Media Limited by 48.2% in the first quarter. Russell Investments Group Ltd. now owns 53,272 shares of the information services provider’s stock valued at $185,000 after acquiring an additional 17,325 shares during the period. Renaissance Technologies LLC raised its stake in shares of Phoenix New Media Limited by 0.5% in the first quarter. Renaissance Technologies LLC now owns 1,244,500 shares of the information services provider’s stock valued at $4,343,000 after acquiring an additional 6,300 shares during the period. Hermes Investment Management Ltd. raised its stake in shares of Phoenix New Media Limited by 28.9% in the second quarter. Hermes Investment Management Ltd. now owns 714,652 shares of the information services provider’s stock valued at $1,880,000 after acquiring an additional 160,199 shares during the period. GAM Holding AG purchased a new stake in shares of Phoenix New Media Limited in the second quarter valued at $395,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Phoenix New Media Limited by 52.2% in the second quarter. Dimensional Fund Advisors LP now owns 184,695 shares of the information services provider’s stock valued at $486,000 after acquiring an additional 63,378 shares during the period. 12.29% of the stock is currently owned by institutional investors and hedge funds.

About Phoenix New Media Limited

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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