Phoenix New Media Ltd (NYSE:FENG) saw some unusual options trading on Monday. Stock investors acquired 607 call options on the stock. This is an increase of approximately 806% compared to the average daily volume of 67 call options.
Separately, Macquarie raised Phoenix New Media from a “neutral” rating to an “outperform” rating in a research note on Tuesday, November 14th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. acquired a new stake in Phoenix New Media during the fourth quarter worth approximately $103,000. Ellington Management Group LLC acquired a new stake in Phoenix New Media during the fourth quarter worth approximately $138,000. Virtu Financial LLC acquired a new stake in Phoenix New Media during the fourth quarter worth approximately $160,000. JPMorgan Chase & Co. grew its stake in Phoenix New Media by 918.2% during 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. Finally, Citadel Advisors LLC acquired a new stake in Phoenix New Media during the fourth quarter worth approximately $184,000. 16.78% of the stock is owned by institutional investors and hedge funds.
Phoenix New Media (NYSE:FENG) last issued its quarterly earnings results on Monday, March 12th. The information services provider reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.09. The company had revenue of $71.00 million during the quarter, compared to analysts’ expectations of $67.06 million. Phoenix New Media had a return on equity of 2.87% and a net margin of 4.32%. The business’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 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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