PhenixFIN (NYSE:PFX) Share Price Passes Below 50-Day Moving Average - Should You Sell?

Key Points

• PhenixFIN Co. shares fell below their 50-day moving average, trading as low as $49.15, while the last price was $49.98.
• CEO David A. Lorber purchased 700 shares at $47.91 each, indicating insider confidence in the company's future.
• Institutional investors collectively hold 43.35% of PhenixFIN's stock, reflecting significant interest from large entities.

PhenixFIN Co. (NYSE:PFX - Get Free Report) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $49.71 and traded as low as $49.15. PhenixFIN shares last traded at $49.98, with a volume of 128 shares trading hands.

PhenixFIN Stock Performance

The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.21 and a current ratio of 1.21. The company has a market capitalization of $98.70 million, a P/E ratio of 6.04 and a beta of 0.35. The business's fifty day simple moving average is $49.54 and its 200-day simple moving average is $50.55.

Insider Transactions at PhenixFIN

In other PhenixFIN news, CEO David A. Lorber acquired 700 shares of the company's stock in a transaction on Monday, June 16th. The stock was acquired at an average cost of $47.91 per share, with a total value of $33,537.00. Following the purchase, the chief executive officer directly owned 142,845 shares of the company's stock, valued at approximately $6,843,703.95. This represents a 0.49% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have acquired 1,164 shares of company stock valued at $56,459. Insiders own 24.40% of the company's stock.

Hedge Funds Weigh In On PhenixFIN

Institutional investors and hedge funds have recently made changes to their positions in the business. Crossingbridge Advisors LLC purchased a new position in shares of PhenixFIN in the 4th quarter worth $507,000. Bulldog Investors LLP purchased a new position in shares of PhenixFIN in the 4th quarter worth $973,000. Raymond James Financial Inc. purchased a new position in shares of PhenixFIN in the 4th quarter worth $992,000. Finally, Adalta Capital Management LLC grew its stake in shares of PhenixFIN by 4.0% in the 4th quarter. Adalta Capital Management LLC now owns 155,524 shares of the company's stock worth $7,777,000 after buying an additional 5,921 shares in the last quarter. 43.35% of the stock is owned by hedge funds and other institutional investors.

PhenixFIN Company Profile

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.