Phoenix New Media (NYSE:FENG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Phoenix New Media Limited provides premium content on an integrated platform across Internet, mobile and TV channels in China. The Company provides global news coverage, investigative reports and in-depth analysis of events in compelling presentation formats. It enable consumers to access professional news and other quality content and share user-generated content, or UGC, on the Internet and through their mobile devices. Phoenix New Media Limited is a subsidiary of Phoenix Satellite Television (B.V.I.) Holding Limited and is based in Beijing, the Peoples’ Republic of China. “
Several other analysts have also issued reports on FENG. ValuEngine lowered shares of Phoenix New Media from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. Macquarie lifted their target price on shares of Phoenix New Media from $7.60 to $8.10 and gave the company an “outperform” rating in a research report on Thursday, August 16th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $10.00 target price on shares of Phoenix New Media in a research report on Wednesday, August 29th.
Phoenix New Media (NYSE:FENG) last announced its earnings results on Tuesday, August 14th. The information services provider reported $0.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.04. Phoenix New Media had a net margin of 2.14% and a return on equity of 1.31%. The business had revenue of $54.78 million for the quarter. Equities research analysts anticipate that Phoenix New Media will post 0.07 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in FENG. BlackRock Inc. grew its position in shares of Phoenix New Media by 7.1% in the first quarter. BlackRock Inc. now owns 547,860 shares of the information services provider’s stock valued at $2,383,000 after purchasing an additional 36,512 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Phoenix New Media by 741.9% in the first quarter. JPMorgan Chase & Co. now owns 27,133 shares of the information services provider’s stock worth $118,000 after buying an additional 23,910 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Phoenix New Media by 8.3% in the first quarter. Dimensional Fund Advisors LP now owns 242,005 shares of the information services provider’s stock worth $1,053,000 after buying an additional 18,641 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of Phoenix New Media by 142.2% in the third quarter. Acadian Asset Management LLC now owns 61,526 shares of the information services provider’s stock worth $260,000 after buying an additional 36,126 shares in the last quarter. Institutional investors and hedge funds own 15.32% of the company’s stock.
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 in two segments, Net Advertising Services and Paid Services. It offers content and services through three channels, including PC channel, mobile channel, and telecom operators, as well as transmits content to TV viewers, primarily through Phoenix TV.
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