PhenixFIN (NYSE:PFX) Shares Cross Above 50 Day Moving Average – Time to Sell?

PhenixFIN Co. (NYSE:PFX) shares passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $43.69 and traded as high as $46.05. PhenixFIN shares last traded at $47.1090, with a volume of 1,019 shares.

Wall Street Analysts Forecast Growth

Separately, Zacks Research lowered PhenixFIN from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, PhenixFIN has a consensus rating of “Hold”.

PhenixFIN Stock Down 0.9%

The company has a debt-to-equity ratio of 0.87, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market capitalization of $91.32 million, a PE ratio of 5.60 and a beta of 0.24. The business’s 50 day simple moving average is $43.72 and its 200 day simple moving average is $47.06.

Insider Activity at PhenixFIN

In related news, CEO David A. Lorber bought 908 shares of the firm’s stock in a transaction on Wednesday, December 17th. The shares were bought at an average price of $44.74 per share, with a total value of $40,623.92. Following the completion of the transaction, the chief executive officer directly owned 144,891 shares of the company’s stock, valued at $6,482,423.34. This represents a 0.63% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders acquired 1,183 shares of company stock valued at $52,819. Corporate insiders own 24.40% of the company’s stock.

Institutional Investors Weigh In On PhenixFIN

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Adalta Capital Management LLC grew its stake in shares of PhenixFIN by 8.3% during the first quarter. Adalta Capital Management LLC now owns 168,449 shares of the company’s stock worth $8,931,000 after purchasing an additional 12,925 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 in the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in PhenixFIN by 55.4% during the 2nd quarter. Osaic Holdings Inc. now owns 847 shares of the company’s stock worth $43,000 after buying an additional 302 shares during the last quarter. 43.35% of the stock is currently owned by institutional investors and hedge funds.

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.