PhenixFIN (NYSE:PFX) Stock Price Passes Above 50-Day Moving Average - Here's Why

PhenixFIN Co. (NYSE:PFX - Get Free Report) crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $50.66 and traded as high as $51.50. PhenixFIN shares last traded at $49.59, with a volume of 4,603 shares changing hands.

PhenixFIN Stock Performance

The stock has a market cap of $98.96 million, a P/E ratio of 6.01 and a beta of 0.37. The company has a fifty day moving average price of $50.50 and a 200 day moving average price of $50.09. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.21 and a quick ratio of 1.21.

Insider Buying and Selling

In related news, CEO David A. Lorber purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $53.92 per share, with a total value of $53,920.00. Following the transaction, the chief executive officer now owns 142,145 shares of the company's stock, valued at $7,664,458.40. This represents a 0.71% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders purchased 2,100 shares of company stock worth $113,046. 24.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PhenixFIN

Several large investors have recently made changes to their positions in PFX. Crossingbridge Advisors LLC purchased a new stake in shares of PhenixFIN during the 4th quarter valued at $507,000. AlphaCentric Advisors LLC purchased a new stake in shares of PhenixFIN during the 4th quarter valued at $507,000. Bulldog Investors LLP purchased a new stake in shares of PhenixFIN during the 4th quarter valued at $973,000. Raymond James Financial Inc. purchased a new stake in shares of PhenixFIN during the 4th quarter valued at $992,000. Finally, Adalta Capital Management LLC increased its position in shares of PhenixFIN by 4.0% during the 4th quarter. Adalta Capital Management LLC now owns 155,524 shares of the company's stock valued at $7,777,000 after purchasing an additional 5,921 shares during the last 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.