Phoenix New Media Limited (FENG) Lowered to Hold at BidaskClub

BidaskClub cut shares of Phoenix New Media Limited (NYSE:FENG) from a buy rating to a hold rating in a report issued on Wednesday.

Shares of Phoenix New Media Limited (NYSE FENG) opened at 5.56 on Wednesday. Phoenix New Media Limited has a 52-week low of $2.43 and a 52-week high of $5.98. The firm has a market capitalization of $428.29 million, a P/E ratio of 41.49 and a beta of 1.01. The stock has a 50 day moving average of $3.94 and a 200-day moving average of $3.38.

Phoenix New Media Limited (NYSE:FENG) last announced its quarterly earnings results on Tuesday, August 15th. The information services provider reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.09. The company had revenue of $58.00 million for the quarter, compared to analysts’ expectations of $54.49 million. Phoenix New Media Limited had a net margin of 4.39% and a return on equity of 3.00%. Phoenix New Media Limited’s revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.01 EPS. Equities analysts expect that Phoenix New Media Limited will post ($0.05) earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of FENG. Russell Investments Group Ltd. lifted its stake in Phoenix New Media Limited by 48.2% in the 1st quarter. Russell Investments Group Ltd. now owns 53,272 shares of the information services provider’s stock worth $185,000 after purchasing an additional 17,325 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Phoenix New Media Limited by 0.5% in the 1st quarter. Renaissance Technologies LLC now owns 1,244,500 shares of the information services provider’s stock worth $4,343,000 after purchasing an additional 6,300 shares in the last quarter. Hermes Investment Management Ltd. lifted its stake in Phoenix New Media Limited by 28.9% in the 2nd quarter. Hermes Investment Management Ltd. now owns 714,652 shares of the information services provider’s stock worth $1,880,000 after purchasing an additional 160,199 shares in the last quarter. GAM Holding AG purchased a new stake in Phoenix New Media Limited in the 2nd quarter worth approximately $395,000. Finally, Dimensional Fund Advisors LP lifted its stake in Phoenix New Media Limited by 52.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 184,695 shares of the information services provider’s stock worth $486,000 after purchasing an additional 63,378 shares in the last quarter. Institutional investors and hedge funds own 12.29% of the company’s stock.

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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