PhenixFIN (NYSE:PFX) Cut to Strong Sell at Zacks Research

Zacks Research lowered shares of PhenixFIN (NYSE:PFX) from a hold rating to a strong sell rating in a research report report published on Wednesday morning,Zacks.com reports.

PhenixFIN Trading Up 0.9%

PFX opened at $43.90 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.87. The firm has a market cap of $87.83 million, a price-to-earnings ratio of 5.39 and a beta of 0.22. PhenixFIN has a 12 month low of $41.00 and a 12 month high of $57.40. The stock has a fifty day moving average price of $43.85 and a 200-day moving average price of $46.26.

Insider Buying and Selling

In other news, CEO David A. Lorber bought 572 shares of the stock in a transaction on Wednesday, December 24th. The stock was bought at an average cost of $46.05 per share, for a total transaction of $26,340.60. Following the completion of the purchase, the chief executive officer directly owned 146,596 shares in the company, valued at approximately $6,750,745.80. The trade was a 0.39% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased a total of 3,044 shares of company stock worth $137,733 over the last three months. Corporate insiders own 24.40% of the company’s stock.

Institutional Trading of PhenixFIN

Hedge funds and other institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. boosted its position in shares of PhenixFIN by 55.4% in the 2nd quarter. Osaic Holdings Inc. now owns 847 shares of the company’s stock worth $43,000 after purchasing an additional 302 shares in the last quarter. Raymond James Financial Inc. raised 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 buying an additional 590 shares during the last quarter. Finally, Adalta Capital Management LLC raised its stake in PhenixFIN by 0.8% in the second quarter. Adalta Capital Management LLC now owns 169,839 shares of the company’s stock valued at $8,619,000 after buying an additional 1,390 shares during the last quarter. Hedge funds and other institutional investors own 43.35% of the company’s stock.

About PhenixFIN

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.