PhenixFIN (NYSE:PFX) Downgraded to Hold Rating by Zacks Research

Zacks Research cut shares of PhenixFIN (NYSE:PFX) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

PhenixFIN Stock Down 1.8%

Shares of PFX stock traded down $0.75 during mid-day trading on Monday, reaching $40.75. 407 shares of the company’s stock traded hands, compared to its average volume of 3,769. PhenixFIN has a 12 month low of $38.30 and a 12 month high of $53.59. The company 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 quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.87. The company’s 50-day moving average price is $41.79 and its 200-day moving average price is $43.47.

Insider Transactions at PhenixFIN

In other news, Director Howard Amster purchased 11,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were bought at an average price of $42.56 per share, for a total transaction of $489,440.00. Following the purchase, the director directly owned 248,248 shares in the company, valued at approximately $10,565,434.88. This trade represents a 4.86% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 25.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PhenixFIN

Hedge funds have recently bought and sold shares of the company. 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 in the last quarter. 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 in the last quarter. Finally, Adalta Capital Management LLC boosted its stake in PhenixFIN by 1.5% in the 4th 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 in the last quarter. Institutional investors 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.