Zacks Investment Research Lowers Phoenix New Media (NYSE:FENG) to Sell

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Zacks Investment Research downgraded shares of Phoenix New Media (NYSE:FENG) from a hold rating to a sell rating in a research report released on Tuesday, Zacks.com reports.

According to Zacks, “Phoenix New Media Limited provides premium content on an integrated platform across Internet, mobile and TV channels in China. The Company provides global news coverage, investigative reports and in-depth analysis of events in compelling presentation formats. It enable consumers to access professional news and other quality content and share user-generated content, or UGC, on the Internet and through their mobile devices. Phoenix New Media Limited is a subsidiary of Phoenix Satellite Television (B.V.I.) Holding Limited and is based in Beijing, the Peoples’ Republic of China. “

Other research analysts also recently issued reports about the stock. ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. TheStreet upgraded shares of SUMMIT THERAPEU/S from a d rating to a c- rating in a research report on Thursday, June 13th. Two analysts have rated the stock with a sell rating and two have given a buy rating to the company. Phoenix New Media currently has an average rating of Hold and an average price target of $9.05.

NYSE FENG traded up $0.01 during trading hours on Tuesday, reaching $2.90. 3,227 shares of the company traded hands, compared to its average volume of 87,153. Phoenix New Media has a 12 month low of $2.66 and a 12 month high of $5.30. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $215.58 million, a PE ratio of -22.31 and a beta of 2.14. The stock has a 50 day simple moving average of $3.25.

Phoenix New Media (NYSE:FENG) last posted its quarterly earnings data on Monday, May 13th. The information services provider reported ($0.25) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.24). Phoenix New Media had a negative net margin of 9.15% and a negative return on equity of 4.04%. The company had revenue of $42.45 million for the quarter. Analysts forecast that Phoenix New Media will post 0.09 EPS for the current year.

Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of Phoenix New Media by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 254,498 shares of the information services provider’s stock worth $813,000 after buying an additional 3,813 shares during the last quarter. Geode Capital Management LLC acquired a new stake in shares of Phoenix New Media in the 4th quarter worth about $137,000. Millennium Management LLC increased its holdings in shares of Phoenix New Media by 232.6% in the 4th quarter. Millennium Management LLC now owns 94,661 shares of the information services provider’s stock worth $303,000 after acquiring an additional 66,198 shares during the period. FIL Ltd increased its holdings in shares of Phoenix New Media by 6.3% in the 1st quarter. FIL Ltd now owns 1,738,091 shares of the information services provider’s stock worth $7,317,000 after acquiring an additional 103,531 shares during the period. Finally, International Value Advisers LLC increased its holdings in shares of Phoenix New Media by 26.7% in the 1st quarter. International Value Advisers LLC now owns 4,168,723 shares of the information services provider’s stock worth $17,550,000 after acquiring an additional 878,139 shares during the period. Institutional investors own 15.62% of the company’s stock.

About Phoenix New Media

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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