Granite Point Capital Management L.P. decreased its position in shares of Phoenix New Media Ltd (NYSE:FENG) by 62.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,691 shares of the information services provider’s stock after selling 60,000 shares during the period. Granite Point Capital Management L.P. owned about 0.05% of Phoenix New Media worth $216,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FENG. JPMorgan Chase & Co. lifted its stake in Phoenix New Media by 918.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 24,702 shares of the information services provider’s stock worth $143,000 after acquiring an additional 22,276 shares in the last quarter. State Street Corp increased its holdings in Phoenix New Media by 18.7% during the 2nd 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. GAM Holding AG purchased a new stake in Phoenix New Media during the 2nd quarter worth about $395,000. Russell Investments Group Ltd. increased its holdings in Phoenix New Media by 106.9% during the 3rd 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. Finally, Dimensional Fund Advisors LP increased its holdings in Phoenix New Media by 52.2% during the 2nd 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. 14.44% of the stock is currently owned by hedge funds and other institutional investors.

Several brokerages have weighed in on FENG. BidaskClub upgraded Phoenix New Media from a “hold” rating to a “buy” rating in a report on Tuesday, September 19th. Macquarie upgraded Phoenix New Media from a “neutral” rating to an “outperform” rating in a report on Tuesday, November 14th.

Shares of Phoenix New Media Ltd (NYSE:FENG) traded down $0.03 during midday trading on Thursday, reaching $6.25. The company’s stock had a trading volume of 220,400 shares, compared to its average volume of 452,475. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.01. Phoenix New Media Ltd has a 12 month low of $2.43 and a 12 month high of $8.14. The stock has a market cap of $450.33, a P/E ratio of 48.31 and a beta of 1.19.

Phoenix New Media (NYSE:FENG) last issued its quarterly earnings results on Monday, November 13th. The information services provider reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.09. Phoenix New Media had a return on equity of 2.87% and a net margin of 4.32%. The company had revenue of $64.00 million for the quarter, compared to the consensus estimate of $61.20 million. During the same quarter in the prior year, the business earned $0.05 EPS. Phoenix New Media’s revenue was up 18.5% on a year-over-year basis.

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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.

Institutional Ownership by Quarter for Phoenix New Media (NYSE:FENG)

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