PhenixFIN (NYSE:PFX) Share Price Passes Above Fifty Day Moving Average - Here's What Happened

Key Points

• PhenixFIN shares have crossed above their 50-day moving average of $49.56, peaking at $49.98 during trading.
• CEO David A. Lorber recently purchased 700 shares at an average price of $47.91, indicating strong insider confidence in the company.
• Institutional investors currently own 43.35% of PhenixFIN, with notable new stakes added during the fourth quarter of 2023.

PhenixFIN Co. (NYSE:PFX - ) shares crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $49.56 and traded as high as $49.98. PhenixFIN shares last traded at $49.25, with a volume of 2,078 shares traded.

PhenixFIN Stock Down 0.6%

The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.87. The business has a 50-day moving average price of $49.56 and a 200-day moving average price of $50.54. The firm has a market cap of $98.69 million, a P/E ratio of 6.04 and a beta of 0.35.

Insider Activity

In other news, CEO David A. Lorber purchased 700 shares of the company's stock in a transaction dated Monday, June 16th. The shares were acquired at an average price of $47.91 per share, with a total value of $33,537.00. Following the transaction, the chief executive officer owned 142,845 shares of the company's stock, valued at $6,843,703.95. This represents a 0.49% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders acquired 1,762 shares of company stock worth $85,835. 24.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PhenixFIN

Institutional investors have recently added to or reduced their stakes in the stock. Crossingbridge Advisors LLC bought a new stake in PhenixFIN during the fourth quarter valued at about $507,000. Bulldog Investors LLP bought a new stake in PhenixFIN during the fourth quarter valued at about $973,000. Raymond James Financial Inc. bought a new stake in PhenixFIN during the fourth quarter valued at about $992,000. Finally, Adalta Capital Management LLC boosted its position in PhenixFIN by 4.0% during the fourth 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 in the last quarter. Institutional investors own 43.35% of the company's stock.

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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