Balyasny Asset Management L.P. Takes Position in PHINIA Inc. (NYSE:PHIN)

Balyasny Asset Management L.P. bought a new stake in PHINIA Inc. (NYSE:PHIN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,093 shares of the company's stock, valued at approximately $342,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. First Trust Advisors LP increased its stake in shares of PHINIA by 32.6% in the fourth quarter. First Trust Advisors LP now owns 1,866,894 shares of the company's stock valued at $89,928,000 after buying an additional 458,650 shares during the period. Voss Capital LP lifted its stake in shares of PHINIA by 31.8% in the fourth quarter. Voss Capital LP now owns 1,417,081 shares of the company's stock worth $68,261,000 after acquiring an additional 342,081 shares during the period. Dimensional Fund Advisors LP increased its position in PHINIA by 14.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company's stock valued at $98,653,000 after purchasing an additional 253,345 shares during the period. Brandywine Global Investment Management LLC acquired a new position in shares of PHINIA in the 4th quarter worth approximately $6,874,000. Finally, American Century Companies Inc. lifted its holdings in PHINIA by 8.5% in the fourth quarter. American Century Companies Inc. now owns 1,414,155 shares of the company's stock valued at $68,120,000 after buying an additional 110,931 shares during the period. Institutional investors own 90.94% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PHIN shares. UBS Group reiterated a "neutral" rating and issued a $45.00 target price (down from $56.00) on shares of PHINIA in a report on Thursday, April 10th. BNP Paribas cut shares of PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price objective on the stock. in a research report on Wednesday, April 23rd. Morgan Stanley decreased their target price on PHINIA from $50.00 to $46.00 and set an "equal weight" rating for the company in a research report on Monday. CL King began coverage on PHINIA in a research note on Monday, March 24th. They issued a "buy" rating and a $54.00 price objective for the company. Finally, Bank of America boosted their price objective on PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, PHINIA presently has a consensus rating of "Moderate Buy" and an average target price of $51.17.

Insider Activity at PHINIA

In other PHINIA news, CEO Brady D. Ericson bought 10,000 shares of the business's stock in a transaction on Wednesday, April 30th. The stock was purchased at an average price of $39.73 per share, for a total transaction of $397,300.00. Following the completion of the transaction, the chief executive officer now directly owns 436,486 shares of the company's stock, valued at $17,341,588.78. This trade represents a 2.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is owned by company insiders.

PHINIA Stock Performance

PHINIA stock traded up $0.03 during mid-day trading on Thursday, reaching $42.47. 42,332 shares of the company's stock were exchanged, compared to its average volume of 589,842. The firm has a market capitalization of $1.69 billion, a PE ratio of 24.29 and a beta of 1.59. The company has a quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61. The business's fifty day simple moving average is $41.95 and its 200 day simple moving average is $47.33. PHINIA Inc. has a one year low of $36.25 and a one year high of $57.23.

PHINIA (NYSE:PHIN - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.10). PHINIA had a net margin of 2.32% and a return on equity of 10.12%. The company had revenue of $796.00 million for the quarter, compared to the consensus estimate of $813.24 million. During the same quarter in the previous year, the company posted $1.08 EPS. PHINIA's quarterly revenue was down 7.8% compared to the same quarter last year. On average, sell-side analysts expect that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Profile

PHINIA Inc engages in the development, design, and manufacture of integrated components and systems that optimize performance, increase efficiency, and reduce emissions in combustion and hybrid propulsion for commercial and light vehicles, and industrial applications. The company operates through Fuel Systems and Aftermarket segments.