Phoenix New Media (FENG) Sets New 1-Year Low at $3.79

Phoenix New Media Ltd (NYSE:FENG) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $3.79 and last traded at $3.82, with a volume of 100 shares traded. The stock had previously closed at $3.87.

Several research analysts have issued reports on FENG shares. Macquarie upped their price objective on Phoenix New Media from $7.60 to $8.10 and gave the stock an “outperform” rating in a report on Thursday, August 16th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Phoenix New Media in a report on Wednesday, August 29th. Finally, ValuEngine raised Phoenix New Media from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd.

The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $305.28 million, a PE ratio of 48.63 and a beta of 2.25.

Phoenix New Media (NYSE:FENG) last posted its quarterly earnings data on Tuesday, August 14th. The information services provider reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.04. Phoenix New Media had a return on equity of 1.31% and a net margin of 2.14%. The firm had revenue of $54.78 million for the quarter. As a group, equities research analysts predict that Phoenix New Media Ltd will post 0.09 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in shares of 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 valued at $1,053,000 after acquiring an additional 18,641 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of 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 valued at $118,000 after acquiring an additional 23,910 shares during the last quarter. BlackRock Inc. raised its position in shares of Phoenix New Media by 7.1% during the 1st quarter. BlackRock Inc. now owns 547,860 shares of the information services provider’s stock valued at $2,383,000 after acquiring an additional 36,512 shares during the last quarter. Finally, Park West Asset Management LLC bought a new stake in shares of Phoenix New Media during the 1st quarter valued at $1,728,000. Institutional investors own 15.33% of the company’s stock.

About Phoenix New Media (NYSE:FENG)

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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