Insider Buying: PhenixFIN (NYSE:PFX) CEO Purchases $111,161.35 in Stock

PhenixFIN Co. (NYSE:PFX) CEO David Lorber bought 2,473 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were purchased at an average price of $44.95 per share, for a total transaction of $111,161.35. Following the purchase, the chief executive officer owned 249,871 shares of the company’s stock, valued at $11,231,701.45. This trade represents a 1.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

PhenixFIN Stock Down 4.3%

NYSE PFX opened at $43.56 on Friday. 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 Co. has a 1-year low of $38.30 and a 1-year high of $53.59. The company has a 50 day moving average of $41.12 and a 200-day moving average of $42.64. The company has a market cap of $84.19 million, a price-to-earnings ratio of 5.34 and a beta of 0.28.

PhenixFIN Dividend Announcement

The firm also recently declared a special dividend, which was paid on Thursday, May 28th. Stockholders of record on Monday, May 18th were given a $0.07 dividend. The ex-dividend date was Monday, May 18th. PhenixFIN’s payout ratio is presently -92.31%.

Hedge Funds Weigh In On PhenixFIN

A number of hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. lifted its holdings in shares of PhenixFIN by 55.4% during the second quarter. Osaic Holdings Inc. now owns 847 shares of the company’s stock worth $43,000 after purchasing an additional 302 shares during the period. Raymond James Financial Inc. raised its holdings in shares of 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 purchasing an additional 590 shares during the period. Finally, Adalta Capital Management LLC raised its holdings in shares of PhenixFIN by 1.5% during the fourth quarter. Adalta Capital Management LLC now owns 175,569 shares of the company’s stock valued at $7,836,000 after purchasing an additional 2,630 shares during the period. Institutional investors and hedge funds own 43.35% of the company’s stock.

Analysts Set New Price Targets

Separately, Zacks Research cut shares of PhenixFIN from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

PhenixFIN Company Profile

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.