PhenixFIN (NYSE:PFX) Shares Cross Below 200-Day Moving Average - Time to Sell?

Key Points

• Shares fell below the 200-day moving average: PFX traded as low as $40.72 and last at $40.95, below its 200-day MA of $42.95, signaling a potential technical weakness.
• Analyst sentiment weakened: Zacks Research downgraded PhenixFIN from "strong-buy" to "hold," and the consensus rating on MarketBeat is currently "Hold."
• Insider buying amid the dip: Director Howard Amster purchased 11,500 shares at $42.56, raising his stake to 248,248 shares, and insiders collectively own 25.20% of the company.

PhenixFIN Co. (NYSE:PFX - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $42.95 and traded as low as $40.72. PhenixFIN shares last traded at $40.9460, with a volume of 479 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut PhenixFIN from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold".

PhenixFIN Trading Up 0.6%

The company has a market capitalization of $81.81 million, a P/E ratio of 5.02 and a beta of 0.27. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.21 and a quick ratio of 1.21. The business's 50-day moving average price is $41.20 and its two-hundred day moving average price is $42.95.

Insider Transactions at PhenixFIN

In other PhenixFIN news, Director Howard Amster bought 11,500 shares of the firm's stock in a transaction on Tuesday, March 3rd. The stock was purchased at an average cost of $42.56 per share, with a total value of $489,440.00. Following the completion of the purchase, the director owned 248,248 shares in the company, valued at approximately $10,565,434.88. The trade was a 4.86% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 25.20% of the company's stock.

Hedge Funds Weigh In On PhenixFIN

Institutional investors have recently modified their holdings of the business. Adalta Capital Management LLC grew its position in shares of PhenixFIN by 1.5% in the 4th quarter. Adalta Capital Management LLC now owns 175,569 shares of the company's stock valued at $7,836,000 after purchasing an additional 2,630 shares during the period. Raymond James Financial Inc. raised its holdings in PhenixFIN by 3.0% during the 3rd quarter. Raymond James Financial Inc. now owns 20,369 shares of the company's stock worth $970,000 after buying an additional 590 shares during the period. Finally, Osaic Holdings Inc. lifted its stake in PhenixFIN by 55.4% in the second quarter. Osaic Holdings Inc. now owns 847 shares of the company's stock valued at $43,000 after buying an additional 302 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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