Balyasny Asset Management L.P. Buys New Shares in PHINIA Inc. (NYSE:PHIN)

Balyasny Asset Management L.P. acquired a new stake in PHINIA Inc. (NYSE:PHIN - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 7,093 shares of the company's stock, valued at approximately $342,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in PHIN. Smartleaf Asset Management LLC increased its stake in shares of PHINIA by 149.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock valued at $33,000 after buying an additional 418 shares during the period. KBC Group NV increased its position in shares of PHINIA by 45.8% during the fourth quarter. KBC Group NV now owns 2,180 shares of the company's stock valued at $105,000 after buying an additional 685 shares during the period. AlphaQuest LLC bought a new stake in PHINIA during the 4th quarter valued at approximately $173,000. State of Michigan Retirement System bought a new position in shares of PHINIA in the 4th quarter worth approximately $203,000. Finally, Optimize Financial Inc purchased a new position in shares of PHINIA in the 4th quarter valued at approximately $206,000. Institutional investors own 90.94% of the company's stock.

Insider Transactions at PHINIA

In related news, CEO Brady D. Ericson bought 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The shares were bought at an average cost of $39.73 per share, with a total value of $397,300.00. Following the acquisition, the chief executive officer now owns 436,486 shares in the company, valued at $17,341,588.78. This trade represents a 2.34% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.00% of the company's stock.

PHINIA Stock Performance

PHIN stock traded down $1.34 on Wednesday, hitting $42.66. The company had a trading volume of 192,010 shares, compared to its average volume of 545,302. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61. PHINIA Inc. has a 12-month low of $36.25 and a 12-month high of $57.23. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 24.38 and a beta of 1.59. The stock's 50-day simple moving average is $41.96 and its 200 day simple moving average is $47.36.

PHINIA (NYSE:PHIN - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.10). The firm had revenue of $796.00 million during the quarter, compared to the consensus estimate of $813.24 million. PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The business's revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.08 EPS. As a group, equities research analysts expect that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PHIN has been the subject of a number of recent research reports. Morgan Stanley lowered their price target on shares of PHINIA from $50.00 to $46.00 and set an "equal weight" rating for the company in a research report on Monday. Northland Capmk raised PHINIA to a "strong-buy" rating in a research report on Thursday, January 30th. Bank of America increased their target price on PHINIA from $53.00 to $55.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. BNP Paribas lowered PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price target for the company. in a research report on Wednesday, April 23rd. Finally, Northland Securities assumed coverage on shares of PHINIA in a research note on Thursday, January 30th. They issued an "outperform" rating and a $61.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $51.17.

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.