Zacks Research Downgrades PhenixFIN (NYSE:PFX) to Strong Sell

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

PhenixFIN Stock Performance

Shares of PFX opened at $43.25 on Wednesday. The company has a market capitalization of $86.54 million, a price-to-earnings ratio of 5.31 and a beta of 0.22. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.21 and a current ratio of 1.21. PhenixFIN has a 1 year low of $41.00 and a 1 year high of $57.40. The company’s 50 day simple moving average is $43.83 and its 200 day simple moving average is $46.30.

Insider Transactions at PhenixFIN

In other news, CEO David A. Lorber acquired 572 shares of the company’s stock in a transaction dated Wednesday, December 24th. The shares were bought at an average price 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 of the company’s stock, valued at approximately $6,750,745.80. This trade represents a 0.39% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 3,044 shares of company stock valued at $137,733 over the last three months. 24.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Adalta Capital Management LLC grew its position in shares of PhenixFIN by 1.8% during the third quarter. Adalta Capital Management LLC now owns 172,939 shares of the company’s stock worth $8,210,000 after acquiring an additional 3,100 shares during the last quarter. Raymond James Financial Inc. boosted its stake 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 period. Finally, Osaic Holdings Inc. boosted its position in PhenixFIN by 55.4% during the second 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. Institutional investors and hedge funds 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.