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

Zacks Investment Research cut shares of Phoenix New Media (NYSE:FENG) from a hold rating to a sell rating in a report published on Wednesday, 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. “

FENG has been the subject of a number of other research reports. TheStreet raised SUMMIT THERAPEU/S from a d rating to a c- rating in a report on Thursday, June 13th. ValuEngine cut Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. 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 a consensus price target of $9.05.

NYSE FENG opened at $2.96 on Wednesday. Phoenix New Media has a twelve month low of $2.83 and a twelve 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 business has a 50-day simple moving average of $3.43.

Phoenix New Media (NYSE:FENG) last released its quarterly earnings results on Monday, May 13th. The information services provider reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.24). The business had revenue of $42.45 million during the quarter. Phoenix New Media had a negative return on equity of 4.04% and a negative net margin of 9.15%. As a group, equities research analysts expect that Phoenix New Media will post 0.09 EPS for the current year.

Several institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its holdings in shares of Phoenix New Media by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 254,498 shares of the information services provider’s stock valued at $813,000 after acquiring an additional 3,813 shares during the last quarter. Geode Capital Management LLC acquired a new position in shares of Phoenix New Media during the fourth quarter valued at approximately $137,000. Millennium Management LLC raised its holdings in shares of Phoenix New Media by 232.6% during the fourth quarter. Millennium Management LLC now owns 94,661 shares of the information services provider’s stock valued at $303,000 after acquiring an additional 66,198 shares during the last quarter. FIL Ltd raised its holdings in shares of Phoenix New Media by 6.3% during the first quarter. FIL Ltd now owns 1,738,091 shares of the information services provider’s stock valued at $7,317,000 after acquiring an additional 103,531 shares during the last quarter. Finally, International Value Advisers LLC raised its holdings in shares of Phoenix New Media by 26.7% during the first quarter. International Value Advisers LLC now owns 4,168,723 shares of the information services provider’s stock valued at $17,550,000 after acquiring an additional 878,139 shares during the last quarter. 15.62% of the stock is owned by institutional investors and hedge funds.

Phoenix New Media Company Profile

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.

Featured Article: Bear Market – How and Why They Occur

Get a free copy of the Zacks research report on Phoenix New Media (FENG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Phoenix New Media Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phoenix New Media and related companies with MarketBeat.com's FREE daily email newsletter.