Phoenix New Media Limited (NYSE:FENG) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Friday.

Phoenix New Media Limited (FENG) opened at 4.56 on Friday. The company has a 50 day moving average of $3.08 and a 200-day moving average of $3.27. The stock has a market capitalization of $351.26 million, a P/E ratio of 34.55 and a beta of 1.13. Phoenix New Media Limited has a one year low of $2.43 and a one year high of $5.25.

Phoenix New Media Limited (NYSE:FENG) last announced its quarterly earnings data on Tuesday, August 15th. The information services provider reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.09. The business had revenue of $58 million for the quarter, compared to analyst estimates of $54.49 million. Phoenix New Media Limited had a return on equity of 3.00% and a net margin of 4.39%. The company’s revenue was up 29.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.01 earnings per share. Equities research analysts predict that Phoenix New Media Limited will post ($0.03) earnings per share for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of FENG. Acadian Asset Management LLC raised its stake in Phoenix New Media Limited by 51.2% in the first quarter. Acadian Asset Management LLC now owns 431,626 shares of the information services provider’s stock valued at $1,507,000 after buying an additional 146,165 shares during the period. Russell Investments Group Ltd. raised its stake in Phoenix New Media Limited by 48.2% in the first quarter. Russell Investments Group Ltd. now owns 53,272 shares of the information services provider’s stock valued at $185,000 after buying an additional 17,325 shares during the period. Renaissance Technologies LLC raised its stake in Phoenix New Media Limited by 0.5% in the first quarter. Renaissance Technologies LLC now owns 1,244,500 shares of the information services provider’s stock valued at $4,343,000 after buying an additional 6,300 shares during the period. Hermes Investment Management Ltd. raised its stake in Phoenix New Media Limited by 28.9% in the second quarter. Hermes Investment Management Ltd. now owns 714,652 shares of the information services provider’s stock valued at $1,880,000 after buying an additional 160,199 shares during the period. Finally, GAM Holding AG bought a new stake in Phoenix New Media Limited during the second quarter valued at approximately $395,000. 14.00% of the stock is currently owned by hedge funds and other institutional investors.

About Phoenix New Media Limited

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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