PhenixFIN (NYSE:PFX) Downgraded to Strong Sell Rating by Zacks Research

PhenixFIN (NYSE:PFX) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday,Zacks.com reports.

PhenixFIN Stock Down 1.1%

Shares of PhenixFIN stock opened at $43.25 on Wednesday. The firm has a market cap of $86.54 million, a PE ratio of 5.31 and a beta of 0.22. The business’s 50 day simple moving average is $43.83 and its 200 day simple moving average is $46.30. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.21 and a current ratio of 1.21. PhenixFIN has a 52-week low of $41.00 and a 52-week high of $57.40.

Insider Buying and Selling

In other PhenixFIN news, CEO David A. Lorber bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The stock was acquired at an average price of $45.44 per share, with a total value of $45,440.00. Following the completion of the transaction, the chief executive officer owned 145,891 shares in the company, valued at approximately $6,629,287.04. This trade represents a 0.69% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired a total of 3,044 shares of company stock worth $137,733 in the last ninety days. Corporate insiders own 24.40% of the company’s stock.

Hedge Funds Weigh In On PhenixFIN

A number of large investors have recently modified their holdings of PFX. Osaic Holdings Inc. increased its position in shares of PhenixFIN by 55.4% in the second quarter. Osaic Holdings Inc. now owns 847 shares of the company’s stock valued at $43,000 after acquiring an additional 302 shares during the last quarter. Raymond James Financial Inc. grew its stake in PhenixFIN by 3.0% in the third quarter. Raymond James Financial Inc. now owns 20,369 shares of the company’s stock valued at $970,000 after purchasing an additional 590 shares in the last quarter. Finally, Adalta Capital Management LLC increased its position in shares of PhenixFIN by 1.8% during the 3rd quarter. Adalta Capital Management LLC now owns 172,939 shares of the company’s stock worth $8,210,000 after purchasing an additional 3,100 shares during the last quarter. 43.35% of the stock is currently owned by institutional investors and hedge funds.

PhenixFIN Company Profile

PhenixFIN Corporation is a business development company. The firm seeks to invest in privately negotiated debt and equity securities of small and middle market companies. It primarily invests in the following sectors: business services; buildings and real estate; automobile; oil and gas; aerospace and defense; home and office furnishings, housewares, and durable consumer products; healthcare, education and childcare; personal, food, and miscellaneous services; retail stores, diversified or conglomerate manufacturing; telecommunications; mining, steel, iron, and non-precious metals; leisure, amusement, motion pictures, and entertainment; chemicals, plastics, and rubber; finance; personal and nondurable consumer products (manufacturing only); beverage, food, and tobacco; containers, packaging, and glass; structure finance securities; machinery (non-agriculture, non-construction, non-electric); diversified or conglomerate service; restaurant and franchise; electronics; and cargo transport.