Phoenix New Media (NYSE:FENG) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com assumed coverage on shares of Phoenix New Media (NYSE:FENGGet Rating) in a note issued to investors on Tuesday. The firm set a “buy” rating on the information services provider’s stock.

Separately, TheStreet cut shares of Phoenix New Media from a “c-” rating to a “d+” rating in a research note on Friday, April 22nd.

FENG stock opened at $3.58 on Tuesday. The company’s 50 day simple moving average is $3.32 and its 200-day simple moving average is $4.16. Phoenix New Media has a 52-week low of $2.10 and a 52-week high of $10.08. The firm has a market capitalization of $43.44 million, a P/E ratio of -1.07 and a beta of 1.82. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.12 and a quick ratio of 2.12.

Phoenix New Media (NYSE:FENGGet Rating) last posted its earnings results on Monday, May 9th. The information services provider reported ($1.02) EPS for the quarter. The business had revenue of $27.67 million during the quarter. Phoenix New Media had a negative return on equity of 17.94% and a negative net margin of 26.17%.

Large investors have recently added to or reduced their stakes in the stock. Morgan Stanley raised its stake in Phoenix New Media by 34.6% during the 2nd quarter. Morgan Stanley now owns 1,088,169 shares of the information services provider’s stock valued at $1,687,000 after purchasing an additional 279,575 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Phoenix New Media by 2.9% in the 4th quarter. Renaissance Technologies LLC now owns 465,737 shares of the information services provider’s stock worth $401,000 after purchasing an additional 13,342 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Phoenix New Media in the 4th quarter worth about $61,000. Envestnet Asset Management Inc. grew its holdings in shares of Phoenix New Media by 305.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 258,050 shares of the information services provider’s stock worth $222,000 after purchasing an additional 194,422 shares during the last quarter. Finally, DGS Capital Management LLC bought a new stake in shares of Phoenix New Media in the 4th quarter worth about $25,000. Hedge funds and other institutional investors own 10.24% of the company’s stock.

Phoenix New Media Company Profile (Get Rating)

Phoenix New Media Limited provides content on an integrated Internet platform in the People's Republic of China. The company operates through two segments, Net Advertising Services and Paid Services. It offers content and services through PC channel, mobile channel, and telecom operators, as well as transmits content to TV viewers, primarily through Phoenix TV.

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