Phoenix New Media Limited (NYSE:FENG – Get Rating) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 187,300 shares, a growth of 28.6% from the August 15th total of 145,700 shares. Based on an average daily volume of 49,800 shares, the days-to-cover ratio is presently 3.8 days. Currently, 3.4% of the company’s stock are sold short.
Wall Street Analysts Forecast Growth
Separately, StockNews.com started coverage on Phoenix New Media in a research note on Wednesday. They set a “hold” rating for the company.
Institutional Trading of Phoenix New Media
An institutional investor recently raised its position in Phoenix New Media stock. Envestnet Asset Management Inc. lifted its position in shares of Phoenix New Media Limited (NYSE:FENG – Get Rating) by 305.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 258,050 shares of the information services provider’s stock after acquiring an additional 194,422 shares during the period. Envestnet Asset Management Inc. owned about 0.35% of Phoenix New Media worth $222,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 8.50% of the company’s stock.
Phoenix New Media Price Performance
About Phoenix New Media
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.
- Get a free copy of the StockNews.com research report on Phoenix New Media (FENG)
- Stock Market: 3 Islands Of Strength In A Sea Of Red
- 3 Banks Worth Considering For Q4
- MarketBeat: Week in Review 9/12 – 9/16
- Is There a Cure for What is Ailing Teladoc Stock?
- No One Told These 3 Stocks It’s a Down Week
Receive News & Ratings for Phoenix New Media Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phoenix New Media and related companies with MarketBeat.com's FREE daily email newsletter.