Stock Traders Purchase Large Volume of Call Options on Phoenix New Media (FENG)

Phoenix New Media Ltd (NYSE:FENG) was the recipient of unusually large options trading activity on Thursday. Stock traders acquired 2,038 call options on the stock. This is an increase of approximately 2,897% compared to the average volume of 68 call options.

Several research analysts have recently weighed in on the stock. BidaskClub raised shares of Phoenix New Media from a “hold” rating to a “buy” rating in a report on Tuesday, September 19th. Macquarie raised shares of Phoenix New Media from a “neutral” rating to an “outperform” rating in a report on Tuesday, November 14th.

A number of large investors have recently made changes to their positions in FENG. JPMorgan Chase & Co. grew its position in Phoenix New Media by 918.2% in the third 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 grew its position in Phoenix New Media by 18.7% in the second quarter. State Street Corp now owns 104,261 shares of the information services provider’s stock worth $274,000 after acquiring an additional 16,457 shares in the last quarter. Russell Investments Group Ltd. grew its position in Phoenix New Media by 106.9% in the third quarter. Russell Investments Group Ltd. now owns 69,544 shares of the information services provider’s stock worth $409,000 after acquiring an additional 35,924 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Phoenix New Media by 52.2% in the second quarter. Dimensional Fund Advisors LP now owns 184,695 shares of the information services provider’s stock worth $486,000 after acquiring an additional 63,378 shares in the last quarter. Finally, Sylebra HK Co Ltd purchased a new position in Phoenix New Media in the third quarter worth $5,617,000. Institutional investors own 14.41% of the company’s stock.

Phoenix New Media (NYSE:FENG) opened at $7.04 on Friday. Phoenix New Media has a 1-year low of $2.43 and a 1-year high of $8.14. The firm has a market cap of $505.59, a price-to-earnings ratio of 50.29 and a beta of 1.20. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.15 and a quick ratio of 2.15.

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

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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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