Shares of Phoenix New Media (NYSE:FENG) traded up 16.2% during mid-day trading on Tuesday . The stock traded as high as $5.07 and last traded at $4.87. 755,103 shares changed hands during mid-day trading, an increase of 149% from the average session volume of 303,290 shares. The stock had previously closed at $4.19.
Separately, ValuEngine raised shares of Phoenix New Media from a “sell” rating to a “hold” rating in a research report on Thursday.
The company has a current ratio of 2.19, a quick ratio of 2.09 and a debt-to-equity ratio of 0.01. The stock has a market cap of $349.22 million, a PE ratio of 487.00 and a beta of 1.52.
Phoenix New Media (NYSE:FENG) last posted its quarterly earnings results on Monday, March 12th. The information services provider reported $0.02 earnings per share (EPS) for the quarter. Phoenix New Media had a net margin of 0.53% and a return on equity of 0.34%. The company had revenue of $70.98 million for the quarter.
A number of institutional investors have recently bought and sold shares of the stock. Park West Asset Management LLC bought a new stake in Phoenix New Media during the 1st quarter worth approximately $1,728,000. Dimensional Fund Advisors LP increased its holdings in Phoenix New Media by 8.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 242,005 shares of the information services provider’s stock worth $1,053,000 after acquiring an additional 18,641 shares during the period. JPMorgan Chase & Co. increased its holdings in Phoenix New Media by 741.9% during the 1st quarter. JPMorgan Chase & Co. now owns 27,133 shares of the information services provider’s stock worth $118,000 after acquiring an additional 23,910 shares during the period. BlackRock Inc. increased its holdings in Phoenix New Media by 7.1% during the 1st quarter. BlackRock Inc. now owns 547,860 shares of the information services provider’s stock worth $2,383,000 after acquiring an additional 36,512 shares during the period. Finally, J. Goldman & Co LP bought a new stake in Phoenix New Media during the 4th quarter worth approximately $1,168,000. 16.26% of the stock is currently owned by institutional investors and hedge funds.
Phoenix New Media Company Profile
Phoenix New Media Limited provides content on an integrated platform across Internet, mobile, and TV channels in the People's Republic of China. It offers content and services through three channels, including ifeng.com channel, television channel, and mobile channel, as well as transmits content to TV viewers, primarily through Phoenix TV.
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