Stock Traders Purchase Large Volume of Call Options on Phoenix New Media (FENG)
Phoenix New Media Ltd (NYSE:FENG) was the target of some unusual options trading activity on Thursday. Stock investors purchased 2,038 call options on the company. This is an increase of approximately 2,897% compared to the average volume of 68 call options.
Several institutional investors have recently added to or reduced their stakes in FENG. JPMorgan Chase & Co. increased its holdings in shares of Phoenix New Media by 918.2% in the third quarter. JPMorgan Chase & Co. now owns 24,702 shares of the information services provider’s stock worth $143,000 after purchasing an additional 22,276 shares during the period. State Street Corp increased its holdings in shares of Phoenix New Media by 18.7% in the second quarter. State Street Corp now owns 104,261 shares of the information services provider’s stock worth $274,000 after purchasing an additional 16,457 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Phoenix New Media by 106.9% in the third quarter. Russell Investments Group Ltd. now owns 69,544 shares of the information services provider’s stock worth $409,000 after purchasing an additional 35,924 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Phoenix New Media by 52.2% in the second quarter. Dimensional Fund Advisors LP now owns 184,695 shares of the information services provider’s stock worth $486,000 after purchasing an additional 63,378 shares during the period. Finally, Sylebra HK Co Ltd bought a new position in shares of Phoenix New Media in the third quarter worth $5,617,000. 14.41% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on the stock. BidaskClub raised shares of Phoenix New Media from a “hold” rating to a “buy” rating in a report on Tuesday, September 19th. Macquarie raised shares of Phoenix New Media from a “neutral” rating to an “outperform” rating in a report on Tuesday, November 14th.
Phoenix New Media (NYSE:FENG) last released its quarterly earnings results on Monday, November 13th. The information services provider reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.09. The firm had revenue of $64.00 million for the quarter, compared to analysts’ expectations of $61.20 million. Phoenix New Media had a net margin of 4.32% and a return on equity of 2.87%. The business’s quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 earnings per share.
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Phoenix New Media Company Profile
Phoenix New Media Limited is a media company providing content on an integrated platform across Internet, mobile and television channels in China. The Company enables consumers to access professional news and other information, and upload text and images (UGC) on the Internet and through their mobile devices.
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