Key Points
- PhenixFIN CEO David Lorber bought 3,983 shares on June 3 at an average price of $45.27, spending about $180,310 and lifting his ownership to 253,854 shares.
- The stock was trading down 1.6% to $44.27, with a market cap of $85.58 million and a low beta of 0.28, indicating relatively modest volatility.
- PhenixFIN recently paid a $0.07 special dividend, while analysts remain cautious after Zacks Research downgraded the stock to strong sell and MarketBeat shows a consensus rating of sell.
PhenixFIN Co. (NYSE:PFX - Get Free Report) CEO David Lorber purchased 2,200 shares of the business's stock in a transaction dated Monday, June 1st. The shares were purchased at an average cost of $44.60 per share, with a total value of $98,120.00. Following the acquisition, the chief executive officer owned 247,398 shares in the company, valued at $11,033,950.80. This trade represents a 0.90% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.
PhenixFIN Stock Performance
Shares of PhenixFIN stock opened at $44.27 on Thursday. The company has a 50 day moving average of $40.96 and a 200-day moving average of $42.62. PhenixFIN Co. has a 1-year low of $38.30 and a 1-year high of $53.59. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.87. The company has a market cap of $85.58 million, a PE ratio of 5.43 and a beta of 0.28.
PhenixFIN Announces Dividend
The business also recently disclosed a special dividend, which was paid on Thursday, May 28th. Investors of record on Monday, May 18th were given a dividend of $0.07 per share. The ex-dividend date was Monday, May 18th. PhenixFIN's dividend payout ratio is currently -92.31%.
Hedge Funds Weigh In On PhenixFIN
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Adalta Capital Management LLC increased its position in PhenixFIN by 1.8% in the 3rd quarter. Adalta Capital Management LLC now owns 172,939 shares of the company's stock valued at $8,210,000 after acquiring an additional 3,100 shares during the period. Raymond James Financial Inc. increased its position in PhenixFIN by 3.0% in the 3rd quarter. Raymond James Financial Inc. now owns 20,369 shares of the company's stock valued at $970,000 after acquiring an additional 590 shares during the period. Finally, Osaic Holdings Inc. increased its position in PhenixFIN by 55.4% in the 2nd quarter. Osaic Holdings Inc. now owns 847 shares of the company's stock valued at $43,000 after acquiring an additional 302 shares during the period. 43.35% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, Zacks Research cut shares of PhenixFIN from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, PhenixFIN has a consensus rating of "Sell".
Check Out Our Latest Report on PhenixFIN
About PhenixFIN
(
Get Free Report)
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.
Further Reading
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