PhenixFIN (NYSE:PFX) Stock Rating Lowered by Zacks Research

PhenixFIN (NYSE:PFX) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

PhenixFIN Trading Down 1.8%

Shares of PFX stock traded down $0.75 on Monday, hitting $40.75. The stock had a trading volume of 407 shares, compared to its average volume of 3,769. PhenixFIN has a twelve month low of $38.30 and a twelve month high of $53.59. The firm has a market cap of $81.41 million, a P/E ratio of 5.00 and a beta of 0.27. 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 company has a fifty day moving average price of $41.79 and a two-hundred day moving average price of $43.47.

Insiders Place Their Bets

In related news, Director Howard Amster bought 11,500 shares of PhenixFIN stock in a transaction that occurred on Tuesday, March 3rd. The stock was purchased at an average cost of $42.56 per share, with a total value of $489,440.00. Following the purchase, the director owned 248,248 shares in the company, valued at approximately $10,565,434.88. This trade represents a 4.86% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 25.20% of the company’s stock.

Hedge Funds Weigh In On PhenixFIN

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PFX. Adalta Capital Management LLC boosted its stake in PhenixFIN by 1.8% in the 3rd quarter. Adalta Capital Management LLC now owns 172,939 shares of the company’s stock worth $8,210,000 after purchasing an additional 3,100 shares during the period. Raymond James Financial Inc. boosted its stake in PhenixFIN by 3.0% in the 3rd quarter. Raymond James Financial Inc. now owns 20,369 shares of the company’s stock worth $970,000 after purchasing an additional 590 shares during the period. Finally, Osaic Holdings Inc. boosted its stake in 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 during the period. 43.35% of the stock is 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.