PhenixFIN (NYSE:PFX) Downgraded by Zacks Research to Strong Sell

Zacks Research downgraded shares of PhenixFIN (NYSE:PFX) from a hold rating to a strong sell rating in a report published on Thursday morning,Zacks.com reports.

PhenixFIN Trading Up 3.1%

NYSE PFX opened at $40.74 on Thursday. The business’s 50-day moving average price is $40.36 and its two-hundred day moving average price is $42.59. PhenixFIN has a 12 month low of $38.30 and a 12 month high of $53.59. The firm has a market capitalization of $78.75 million, a PE 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.

PhenixFIN Announces Dividend

The business also recently declared a special dividend, which will be paid on Thursday, May 28th. Shareholders of record on Monday, May 18th will be given a $0.07 dividend. The ex-dividend date is Monday, May 18th. PhenixFIN’s payout ratio is -92.31%.

Insider Activity

In other PhenixFIN news, CEO David A. Lorber bought 42,065 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average price of $39.95 per share, for a total transaction of $1,680,496.75. Following the transaction, the chief executive officer directly owned 245,198 shares in the company, valued at approximately $9,795,660.10. This trade represents a 20.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Howard Amster bought 11,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were acquired at an average price of $42.56 per share, for a total transaction of $489,440.00. Following the transaction, the director owned 248,248 shares in the company, valued at $10,565,434.88. This represents a 4.86% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 25.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PhenixFIN

Several institutional investors and hedge funds have recently made changes to their positions in PFX. Adalta Capital Management LLC boosted its position in shares of PhenixFIN by 1.8% during the 3rd quarter. Adalta Capital Management LLC now owns 172,939 shares of the company’s stock valued at $8,210,000 after purchasing an additional 3,100 shares in the last quarter. Raymond James Financial Inc. boosted its position 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 purchasing an additional 590 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its position in shares of PhenixFIN by 55.4% during the 2nd quarter. Osaic Holdings Inc. now owns 847 shares of the company’s stock valued at $43,000 after purchasing an additional 302 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.