Point72 Italy S.r.l. Makes New $1.73 Million Investment in PHINIA Inc. (NYSE:PHIN)

Point72 Italy S.r.l. acquired a new position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 35,922 shares of the company's stock, valued at approximately $1,730,000. PHINIA accounts for 1.0% of Point72 Italy S.r.l.'s portfolio, making the stock its 24th largest position. Point72 Italy S.r.l. owned about 0.09% of PHINIA at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in PHIN. Smartleaf Asset Management LLC increased its position in shares of PHINIA by 149.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock worth $33,000 after purchasing an additional 418 shares in the last quarter. KBC Group NV increased its position in shares of PHINIA by 45.8% during the fourth quarter. KBC Group NV now owns 2,180 shares of the company's stock worth $105,000 after purchasing an additional 685 shares in the last quarter. AlphaQuest LLC purchased a new stake in shares of PHINIA during the fourth quarter worth approximately $173,000. State of Michigan Retirement System acquired a new position in PHINIA during the fourth quarter worth $203,000. Finally, Optimize Financial Inc acquired a new position in PHINIA during the fourth quarter worth $206,000. 90.94% of the stock is currently owned by institutional investors and hedge funds.

PHINIA Stock Down 0.1%

Shares of PHIN traded down $0.04 during mid-day trading on Tuesday, hitting $44.09. 80,590 shares of the company's stock were exchanged, compared to its average volume of 591,134. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 25.13 and a beta of 1.59. PHINIA Inc. has a fifty-two week low of $36.25 and a fifty-two week high of $57.23. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.44 and a current ratio of 1.90. The stock's 50-day moving average is $41.89 and its 200-day moving average is $47.38.

PHINIA (NYSE:PHIN - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.04 by ($0.10). The company had revenue of $796.00 million during the quarter, compared to analyst estimates of $813.24 million. PHINIA had a net margin of 2.32% and a return on equity of 10.12%. PHINIA's revenue for the quarter was down 7.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.08 EPS. On average, sell-side analysts anticipate that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

Insider Buying and Selling at PHINIA

In related news, CEO Brady D. Ericson purchased 10,000 shares of PHINIA stock in a transaction on Wednesday, April 30th. The shares were bought at an average price of $39.73 per share, with a total value of $397,300.00. Following the transaction, the chief executive officer now directly owns 436,486 shares of the company's stock, valued at approximately $17,341,588.78. This trade represents a 2.34% 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 the SEC website. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PHIN has been the topic of a number of recent research reports. BNP Paribas lowered PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price objective on the stock. in a research note on Wednesday, April 23rd. Northland Securities started coverage on shares of PHINIA in a report on Thursday, January 30th. They issued an "outperform" rating and a $61.00 price objective for the company. UBS Group reissued a "neutral" rating and issued a $45.00 price objective (down previously from $56.00) on shares of PHINIA in a report on Thursday, April 10th. Bank of America upped their price objective on shares of PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, Morgan Stanley dropped their price objective on shares of PHINIA from $50.00 to $46.00 and set an "equal weight" rating for the company in a report on Monday. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $51.17.

About PHINIA

PHINIA Inc engages in the development, design, and manufacture of integrated components and systems that optimize performance, increase efficiency, and reduce emissions in combustion and hybrid propulsion for commercial and light vehicles, and industrial applications. The company operates through Fuel Systems and Aftermarket segments.