Phoenix New Media Sees Unusually High Options Volume (FENG)
Phoenix New Media Ltd (NYSE:FENG) was the recipient of unusually large options trading on Monday. Stock investors acquired 607 call options on the company. This represents an increase of 806% compared to the typical daily volume of 67 call options.
Several hedge funds have recently modified their holdings of FENG. Millennium Management LLC bought a new stake in shares of Phoenix New Media in the 4th quarter worth approximately $6,721,000. Sylebra HK Co Ltd bought a new stake in shares of Phoenix New Media in the 3rd quarter worth approximately $5,617,000. Bogle Investment Management L P DE bought a new stake in shares of Phoenix New Media in the 4th quarter worth approximately $2,333,000. BlackRock Inc. grew its position in shares of Phoenix New Media by 125.6% in the 4th quarter. BlackRock Inc. now owns 511,348 shares of the information services provider’s stock worth $3,318,000 after buying an additional 284,672 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Phoenix New Media by 17.5% in the 4th quarter. Renaissance Technologies LLC now owns 1,532,700 shares of the information services provider’s stock worth $9,947,000 after buying an additional 228,500 shares during the last quarter. Hedge funds and other institutional investors own 16.78% of the company’s stock.
Separately, Macquarie upgraded Phoenix New Media from a “neutral” rating to an “outperform” rating in a research report on Tuesday, November 14th.
About Phoenix New Media
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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