PhenixFIN (NYSE:PFX) Cut to Hold at Zacks Research

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

PhenixFIN Price Performance

PhenixFIN stock opened at $44.59 on Monday. The stock has a market cap of $86.10 million, a P/E ratio of 5.47 and a beta of 0.32. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.87. PhenixFIN has a 12-month low of $38.30 and a 12-month high of $56.48. The company has a 50-day moving average price of $46.72 and a 200 day moving average price of $43.70.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in PhenixFIN stock. Legal & General Group Plc acquired a new stake in PhenixFIN Co. (NYSE:PFX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 15,140 shares of the company’s stock, valued at approximately $655,000. Legal & General Group Plc owned approximately 0.78% of PhenixFIN at the end of the most recent quarter. 43.35% of the stock is currently owned by institutional investors and hedge funds.

About PhenixFIN

PhenixFIN Corporation (NYSE:PFX) is a business development company (BDC) that provides financing to privately owned, middle-market companies. The company seeks to generate income and long-term capital appreciation by investing in businesses that may have limited access to traditional sources of capital.

PhenixFIN primarily invests in senior secured loans, including first-lien and unitranche facilities, as well as second-lien and subordinated debt. It may also make equity investments and acquire other securities in connection with its financing activities.