PhenixFIN (NYSE:PFX) Cut to Hold at Zacks Research

Zacks Research cut shares of PhenixFIN (NYSE:PFX) from a strong-buy rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

PhenixFIN Price Performance

PFX stock opened at $40.30 on Monday. The business has a fifty day moving average of $41.71 and a two-hundred day moving average of $43.45. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.87. The stock has a market cap of $80.52 million, a price-to-earnings ratio of 4.94 and a beta of 0.27. PhenixFIN has a 52-week low of $38.30 and a 52-week high of $53.59.

Insider Buying and Selling at PhenixFIN

In related news, Director Howard Amster acquired 11,500 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was purchased at an average price of $42.56 per share, with a total value of $489,440.00. Following the transaction, the director owned 248,248 shares of the company’s stock, valued at approximately $10,565,434.88. This trade represents a 4.86% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 25.20% of the company’s stock.

Hedge Funds Weigh In On PhenixFIN

Hedge funds have recently made changes to their positions in the stock. Osaic Holdings Inc. boosted its position in shares of PhenixFIN by 55.4% during the 2nd quarter. Osaic Holdings Inc. now owns 847 shares of the company’s stock worth $43,000 after purchasing an additional 302 shares during the period. Raymond James Financial Inc. boosted its position in shares of PhenixFIN by 3.0% during the 3rd quarter. Raymond James Financial Inc. now owns 20,369 shares of the company’s stock worth $970,000 after purchasing an additional 590 shares during the period. Finally, Adalta Capital Management LLC boosted 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 period. Hedge funds and other institutional investors own 43.35% of the company’s stock.

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.