Point72 Asia Singapore Pte. Ltd. Takes $144,000 Position in PHINIA Inc. (NYSE:PHIN)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PHINIA Inc. (NYSE:PHIN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,982 shares of the company’s stock, valued at approximately $144,000.

Other hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its holdings in shares of PHINIA by 149.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock valued at $33,000 after acquiring an additional 418 shares in the last quarter. KBC Group NV increased its holdings in shares of PHINIA by 45.8% during the fourth quarter. KBC Group NV now owns 2,180 shares of the company’s stock valued at $105,000 after acquiring an additional 685 shares in the last quarter. AlphaQuest LLC acquired a new position in shares of PHINIA during the fourth quarter valued at about $173,000. State of Michigan Retirement System acquired a new position in shares of PHINIA during the fourth quarter valued at about $203,000. Finally, Optimize Financial Inc acquired a new position in shares of PHINIA during the fourth quarter valued at about $206,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

Insiders Place Their Bets

In other PHINIA news, CEO Brady D. Ericson bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, April 30th. The shares were purchased at an average price of $39.73 per share, for a total transaction of $397,300.00. Following the transaction, the chief executive officer now directly owns 436,486 shares of the company’s stock, valued at approximately $17,341,588.78. This represents a 2.34% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. BNP Paribas lowered PHINIA from an “outperform” rating to a “neutral” rating and set a $46.00 target price on the stock. in a research report on Wednesday, April 23rd. Northland Securities assumed coverage on PHINIA in a research report on Thursday, January 30th. They issued an “outperform” rating and a $61.00 target price on the stock. Northland Capmk upgraded PHINIA to a “strong-buy” rating in a research report on Thursday, January 30th. Bank of America upped their target price on PHINIA from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday. Finally, CL King assumed coverage on PHINIA in a research report on Monday, March 24th. They issued a “buy” rating and a $54.00 target price on the stock. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.83.

PHINIA Trading Down 0.5%

PHINIA stock opened at $44.18 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61. PHINIA Inc. has a 12 month low of $36.25 and a 12 month high of $57.23. The stock’s 50 day simple moving average is $41.86 and its two-hundred day simple moving average is $47.37. The firm has a market cap of $1.76 billion, a PE ratio of 25.25 and a beta of 1.59.

PHINIA (NYSE:PHIN) last released its quarterly earnings data on Friday, April 25th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.10). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The company had revenue of $796.00 million during the quarter, compared to analysts’ expectations of $813.24 million. During the same quarter in the prior year, the company posted $1.08 EPS. The company’s revenue for the quarter was down 7.8% on a year-over-year basis. Analysts anticipate that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Company Profile

PHINIA Inc engages in the development, design, and manufacture of integrated components and systems that optimize performance, increase efficiency, and reduce emissions in combustion and hybrid propulsion for commercial and light vehicles, and industrial applications. The company operates through Fuel Systems and Aftermarket segments.