Hudson Bay Capital Management LP Acquires 45,000 Shares of PHINIA Inc. (NYSE:PHIN)

Hudson Bay Capital Management LP boosted its stake in PHINIA Inc. (NYSE:PHIN - Free Report) by 64.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 115,000 shares of the company's stock after purchasing an additional 45,000 shares during the period. Hudson Bay Capital Management LP owned about 0.27% of PHINIA worth $5,540,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PHIN. Commerce Bank boosted its position in shares of PHINIA by 1.7% during the fourth quarter. Commerce Bank now owns 13,696 shares of the company's stock valued at $660,000 after purchasing an additional 231 shares in the last quarter. Mariner LLC boosted its position in shares of PHINIA by 1.3% during the fourth quarter. Mariner LLC now owns 19,739 shares of the company's stock valued at $951,000 after purchasing an additional 245 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in PHINIA by 5.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 6,870 shares of the company's stock worth $331,000 after acquiring an additional 373 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in PHINIA by 149.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock worth $33,000 after acquiring an additional 418 shares in the last quarter. Finally, KBC Group NV raised its holdings 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 purchasing an additional 685 shares during the last quarter. 90.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Brady D. Ericson acquired 10,000 shares of the stock in a transaction dated Wednesday, April 30th. The stock was acquired at an average cost of $39.73 per share, with a total value of $397,300.00. Following the purchase, the chief executive officer now directly owns 436,486 shares of the company's stock, valued at approximately $17,341,588.78. This trade represents a 2.34% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.00% of the company's stock.

PHINIA Stock Performance

PHIN traded down $0.24 during midday trading on Friday, reaching $44.18. The company had a trading volume of 309,034 shares, compared to its average volume of 595,874. 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 has a 50-day moving average of $41.82 and a two-hundred day moving average of $47.38. The company has a market cap of $1.76 billion, a P/E ratio of 25.25 and a beta of 1.59. PHINIA Inc. has a 1 year low of $36.25 and a 1 year high of $57.23.

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

Analyst Ratings Changes

PHIN has been the topic of several research reports. CL King initiated coverage on shares of PHINIA in a report on Monday, March 24th. They issued a "buy" rating and a $54.00 target price on the stock. BNP Paribas lowered PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price objective for the company. in a report on Wednesday, April 23rd. Northland Securities started coverage on PHINIA in a research report on Thursday, January 30th. They set an "outperform" rating and a $61.00 price objective for the company. Northland Capmk upgraded PHINIA to a "strong-buy" rating in a research report on Thursday, January 30th. Finally, Bank of America upped their price objective on PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.83.

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.