Phoenix New Media (NYSE:FENG) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com began coverage on shares of Phoenix New Media (NYSE:FENG – Get Rating) in a research report issued on Friday. The brokerage set a “hold” rating on the information services provider’s stock.

Phoenix New Media Stock Down 1.6 %

Shares of NYSE FENG opened at $2.46 on Friday. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 0.02. The business has a fifty day simple moving average of $2.43 and a two-hundred day simple moving average of $3.44. Phoenix New Media has a twelve month low of $2.10 and a twelve month high of $5.88.

Institutional Investors Weigh In On Phoenix New Media

A hedge fund recently bought a new stake in Phoenix New Media stock. Virtu Financial LLC bought a new stake in shares of Phoenix New Media Limited (NYSE:FENG – Get Rating) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 21,805 shares of the information services provider’s stock, valued at approximately $58,000.

About Phoenix New Media

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Phoenix New Media Ltd. is engaged in the provision of media and advertising services through internet, mobile, and television channels. It also provides mobile internet and value-add, and video value-added services. It operates under the Net Advertising Services and Paid Services. The company was founded in 1998 and is headquartered in Beijing, China.