Hedge Funds Are Crazy About Phoenix New Media Ltd ADR (FENG)

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With a general bullishness amongst the heavyweights, key money managers have been driving this bullishness. Israel Englander of Millennium Management established the most outsized position in Phoenix New Media Ltd ADR (NYSE:FENG). Millennium Management had $0.2 million invested in the company at the end of the quarter. Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital also initiated a $0.1 million position during the quarter.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Phoenix New Media Ltd ADR (NYSE:FENG) but similarly valued. These stocks are Golden Entertainment Inc (NASDAQ:GDEN), Seneca Foods Corp (NASDAQ:SENEA), Territorial Bancorp Inc (NASDAQ:TBNK), and Golden Star Resources Ltd. (USA) (NYSEAMEX:GSS). All of these stocks’ market caps match FENG’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
GDEN 10 30225 3
SENEA 7 13548 0
TBNK 5 18671 0
GSS 9 13576 5

As you can see these stocks had an average of 8 hedge funds with bullish positions and the average amount invested in these stocks was $19 million. That figure was $25 million in FENG’s case. Golden Entertainment Inc (NASDAQ:GDEN) is the most popular stock in this table. On the other hand Territorial Bancorp Inc (NASDAQ:TBNK) is the least popular one with only 5 bullish hedge fund positions. Phoenix New Media Ltd ADR (NYSE:FENG) is the most popular stock in this group along with GDEN and that makes the stock worth a closer look.

Disclosure: None


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