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

Zacks Research lowered shares of PhenixFIN (NYSE:PFX) from a hold rating to a strong sell rating in a research note published on Wednesday,Zacks.com reports.

PhenixFIN Stock Down 1.1%

PFX opened at $43.25 on Wednesday. The stock has a market capitalization of $86.54 million, a price-to-earnings ratio of 5.31 and a beta of 0.22. The firm has a 50 day moving average price of $43.83 and a 200-day moving average price of $46.30. PhenixFIN has a twelve month low of $41.00 and a twelve month high of $57.40. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.87.

Insider Buying and Selling

In other news, CEO David A. Lorber bought 572 shares of the stock in a transaction on Wednesday, December 24th. The shares were bought at an average price of $46.05 per share, with a total value of $26,340.60. Following the completion of the acquisition, the chief executive officer owned 146,596 shares in the company, valued at $6,750,745.80. The trade was a 0.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders acquired a total of 3,044 shares of company stock worth $137,733 in the last three months. 24.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PhenixFIN

A number of large investors have recently made changes to their positions in the company. Osaic Holdings Inc. boosted its holdings in shares of PhenixFIN by 55.4% in the second quarter. Osaic Holdings Inc. now owns 847 shares of the company’s stock worth $43,000 after buying an additional 302 shares during the last quarter. Raymond James Financial Inc. increased its holdings in PhenixFIN by 3.0% during the third quarter. Raymond James Financial Inc. now owns 20,369 shares of the company’s stock valued at $970,000 after buying an additional 590 shares during the last quarter. Finally, Adalta Capital Management LLC raised its position in PhenixFIN by 0.8% in the second quarter. Adalta Capital Management LLC now owns 169,839 shares of the company’s stock worth $8,619,000 after acquiring an additional 1,390 shares during the period. 43.35% of the stock is currently owned by institutional investors.

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.