Shares of Phoenix New Media Limited (NYSE:FENG) saw unusually-high trading volume on Tuesday after the company announced better than expected quarterly earnings. Approximately 347,300 shares were traded during trading, a decline of 8% from the previous session’s volume of 377,567 shares.The stock last traded at $5.37 and had previously closed at $5.46.

The information services provider reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.09. The business had revenue of $64.00 million for the quarter, compared to the consensus estimate of $61.20 million. Phoenix New Media Limited had a return on equity of 2.96% and a net margin of 4.32%. The business’s revenue was up 18.5% on a year-over-year basis. During the same quarter last year, the business posted $0.05 EPS.

FENG has been the topic of several recent analyst reports. Macquarie raised Phoenix New Media Limited from a “neutral” rating to an “outperform” rating in a research note on Tuesday. BidaskClub downgraded Phoenix New Media Limited from a “buy” rating to a “hold” rating in a research note on Wednesday, September 13th.

A number of institutional investors have recently made changes to their positions in the business. Sylebra HK Co Ltd bought a new stake in Phoenix New Media Limited during the 3rd quarter valued at $5,617,000. Dimensional Fund Advisors LP raised its stake in Phoenix New Media Limited by 6.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 195,901 shares of the information services provider’s stock valued at $1,153,000 after acquiring an additional 11,206 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Phoenix New Media Limited by 918.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 24,702 shares of the information services provider’s stock valued at $143,000 after acquiring an additional 22,276 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Phoenix New Media Limited by 106.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 69,544 shares of the information services provider’s stock valued at $409,000 after acquiring an additional 35,924 shares in the last quarter. Finally, State Street Corp raised its stake in Phoenix New Media Limited by 18.7% during the 2nd quarter. State Street Corp now owns 104,261 shares of the information services provider’s stock valued at $274,000 after acquiring an additional 16,457 shares in the last quarter. 12.28% of the stock is currently owned by hedge funds and other institutional investors.

The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.20 and a current ratio of 2.20. The company has a market cap of $385.07, a P/E ratio of 41.31 and a beta of 1.13.

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About Phoenix New Media Limited

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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