Phoenix New Media Limited (NYSE:FENG) Sees Large Growth in Short Interest

Phoenix New Media Limited (NYSE:FENGGet 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, 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:FENGGet 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

FENG opened at $4.99 on Friday. The company has a market capitalization of $60.55 million, a P/E ratio of -1.13 and a beta of 1.34. The company has a 50-day moving average of $4.96 and a 200-day moving average of $4.15. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.99 and a current ratio of 1.99. Phoenix New Media has a 1-year low of $2.10 and a 1-year high of $9.66.

About Phoenix New Media

(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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