Zacks Research Upgrades PhenixFIN (NYSE:PFX) to “Hold”

PhenixFIN (NYSE:PFX) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

PhenixFIN Stock Up 0.3%

PhenixFIN stock opened at $42.94 on Monday. The business’s 50-day simple moving average is $42.75 and its two-hundred day simple moving average is $42.53. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.21 and a current ratio of 1.21. The company has a market cap of $82.99 million, a PE ratio of 5.27 and a beta of 0.28. PhenixFIN has a fifty-two week low of $38.30 and a fifty-two week high of $53.00.

Insider Buying and Selling

In other PhenixFIN news, CEO David A. Lorber purchased 3,983 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were bought at an average price of $45.27 per share, for a total transaction of $180,310.41. Following the acquisition, the chief executive officer owned 253,854 shares in the company, valued at $11,491,970.58. This represents a 1.59% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders purchased a total of 50,721 shares of company stock valued at $2,070,089 in the last 90 days. 25.20% of the stock is owned by corporate insiders.

Institutional Trading of PhenixFIN

Several institutional investors and hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. boosted its holdings in shares of PhenixFIN by 55.4% in the 2nd 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. increased its stake in shares of PhenixFIN by 3.0% in the third quarter. Raymond James Financial Inc. now owns 20,369 shares of the company’s stock worth $970,000 after acquiring an additional 590 shares during the period. Finally, Adalta Capital Management LLC raised its holdings in shares of PhenixFIN by 1.5% during the fourth quarter. Adalta Capital Management LLC now owns 175,569 shares of the company’s stock worth $7,836,000 after purchasing an additional 2,630 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.