PhenixFIN Co. (NYSE:PFX) Short Interest Down 36.4% in August

Key Points

• PhenixFIN Co. (NYSE:PFX) experienced a significant decrease in short interest in August, down 36.4% to 1,400 shares.
• Insider trading activity includes CEO David A. Lorber acquiring 700 shares, increasing his total holdings to 142,845 shares valued at approximately $6.84 million.
• Adalta Capital Management LLC raised its stake in PhenixFIN by 0.8%, owning around 8.48% of the company at the end of the most recent quarter.

PhenixFIN Co. (NYSE:PFX - ) saw a large decrease in short interest in the month of August. As of August 15th, there was short interest totaling 1,400 shares, adecreaseof36.4% from the July 31st total of 2,200 shares. Based on an average daily volume of 1,100 shares, the days-to-cover ratio is currently 1.3 days. Approximately0.1% of the company's shares are sold short. Approximately0.1% of the company's shares are sold short. Based on an average daily volume of 1,100 shares, the days-to-cover ratio is currently 1.3 days.

PhenixFIN Stock Performance

PhenixFIN stock opened at $49.09 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.21 and a quick ratio of 1.21. PhenixFIN has a 1-year low of $44.56 and a 1-year high of $57.40. The firm has a market capitalization of $98.37 million, a P/E ratio of 6.02 and a beta of 0.31. The company's 50-day moving average is $49.35 and its 200 day moving average is $50.50.

Insiders Place Their Bets

In other news, CEO David A. Lorber acquired 700 shares of PhenixFIN stock in a transaction that occurred on Monday, June 16th. The shares were bought at an average cost of $47.91 per share, with a total value of $33,537.00. Following the transaction, the chief executive officer directly owned 142,845 shares of the company's stock, valued at $6,843,703.95. This trade represents a 0.49% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Over the last 90 days, insiders have bought 2,362 shares of company stock valued at $114,817. Corporate insiders own 24.40% of the company's stock.

Institutional Trading of PhenixFIN

A hedge fund recently raised its stake in PhenixFIN stock. Adalta Capital Management LLC raised its position in PhenixFIN Co. (NYSE:PFX - Free Report) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 169,839 shares of the company's stock after purchasing an additional 1,390 shares during the quarter. PhenixFIN accounts for approximately 4.3% of Adalta Capital Management LLC's holdings, making the stock its 7th biggest holding. Adalta Capital Management LLC owned approximately 8.48% of PhenixFIN worth $8,619,000 at the end of the most recent quarter. 43.35% of the stock is owned by hedge funds and other institutional investors.

About PhenixFIN

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.

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