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

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

PhenixFIN Trading Up 3.1%

Shares of PFX opened at $40.74 on Thursday. The business’s 50-day moving average price is $40.36 and its 200 day moving average price is $42.59. The stock has a market capitalization of $78.75 million, a P/E ratio of 5.00 and a beta of 0.27. PhenixFIN has a 1-year low of $38.30 and a 1-year high of $53.59. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.87.

Insider Activity

In other PhenixFIN news, CEO David A. Lorber bought 42,065 shares of the stock in a transaction on Tuesday, May 12th. The shares were bought at an average price of $39.95 per share, with a total value of $1,680,496.75. Following the purchase, the chief executive officer directly owned 245,198 shares in the company, valued at $9,795,660.10. The trade was a 20.71% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Howard Amster bought 11,500 shares of the stock in a transaction on Tuesday, March 3rd. The shares were acquired at an average cost of $42.56 per share, for a total transaction of $489,440.00. Following the purchase, the director owned 248,248 shares in the company, valued at approximately $10,565,434.88. This represents a 4.86% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 25.20% of the company’s stock.

Hedge Funds Weigh In On PhenixFIN

Institutional investors and hedge funds have recently bought and sold shares of the business. Adalta Capital Management LLC lifted its holdings 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 valued at $8,210,000 after buying an additional 3,100 shares during the last quarter. Raymond James Financial Inc. lifted its holdings 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 valued at $970,000 after buying an additional 590 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in shares of PhenixFIN by 55.4% during the 2nd quarter. Osaic Holdings Inc. now owns 847 shares of the company’s stock valued at $43,000 after buying an additional 302 shares during the last quarter. 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.