PhenixFIN (NYSE:PFX) Rating Increased to Strong-Buy at Zacks Research

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

PhenixFIN Stock Performance

Shares of PFX opened at $47.82 on Wednesday. The business’s 50 day moving average is $48.82 and its two-hundred day moving average is $49.84. PhenixFIN has a 52-week low of $44.56 and a 52-week high of $57.40. The firm has a market cap of $95.82 million, a price-to-earnings ratio of 5.87 and a beta of 0.31. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.87.

Hedge Funds Weigh In On PhenixFIN

A hedge fund recently raised its stake in PhenixFIN stock. Adalta Capital Management LLC raised its holdings in PhenixFIN Co. (NYSE:PFX) by 8.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 168,449 shares of the company’s stock after purchasing an additional 12,925 shares during the period. PhenixFIN comprises approximately 4.8% of Adalta Capital Management LLC’s holdings, making the stock its 6th largest holding. Adalta Capital Management LLC owned about 8.34% of PhenixFIN worth $8,931,000 as of its most recent SEC filing. 43.35% of the stock is currently owned by hedge funds and other 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.