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

Point72 Italy S.r.l. bought a new stake in PHINIA Inc. (NYSE:PHIN - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 35,922 shares of the company's stock, valued at approximately $1,730,000. PHINIA comprises approximately 1.0% of Point72 Italy S.r.l.'s portfolio, making the stock its 24th biggest holding. Point72 Italy S.r.l. owned about 0.09% of PHINIA at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PHIN. Brandywine Global Investment Management LLC bought a new position in PHINIA in the fourth quarter valued at approximately $6,874,000. Barclays PLC grew its position in PHINIA by 336.2% during the third quarter. Barclays PLC now owns 72,805 shares of the company's stock worth $3,351,000 after buying an additional 56,114 shares in the last quarter. Empowered Funds LLC increased its holdings in PHINIA by 5.1% in the 4th quarter. Empowered Funds LLC now owns 239,821 shares of the company's stock valued at $11,552,000 after buying an additional 11,625 shares during the period. Ritholtz Wealth Management increased its stake in shares of PHINIA by 50.8% in the 4th quarter. Ritholtz Wealth Management now owns 28,046 shares of the company's stock valued at $1,351,000 after purchasing an additional 9,442 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of PHINIA by 4.2% during the fourth quarter. Alliancebernstein L.P. now owns 60,963 shares of the company's stock worth $2,937,000 after buying an additional 2,445 shares during the last quarter. Institutional investors own 90.94% of the company's stock.

PHINIA Stock Down 0.5%

PHIN traded down $0.24 on Friday, reaching $44.18. The company's stock had a trading volume of 309,034 shares, compared to its average volume of 594,029. The stock has a 50 day moving average of $41.86 and a two-hundred day moving average of $47.39. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 25.25 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 quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61.

PHINIA (NYSE:PHIN - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.10). The company had revenue of $796.00 million during the quarter, compared to analysts' expectations of $813.24 million. PHINIA had a net margin of 2.32% and a return on equity of 10.12%. The firm's revenue was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.08 earnings per share. As a group, analysts forecast that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Brady D. Ericson bought 10,000 shares of PHINIA stock in a transaction dated Wednesday, April 30th. The shares were bought at an average price of $39.73 per share, for a total transaction of $397,300.00. Following the purchase, the chief executive officer now 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PHIN shares. Northland Capmk upgraded PHINIA to a "strong-buy" rating in a report on Thursday, January 30th. Northland Securities started coverage on PHINIA in a research note on Thursday, January 30th. They issued an "outperform" rating and a $61.00 target price on the stock. CL King initiated coverage on PHINIA in a report on Monday, March 24th. They set a "buy" rating and a $54.00 target price for the company. UBS Group reissued a "neutral" rating and issued a $45.00 target price (down previously from $56.00) on shares of PHINIA in a research report on Thursday, April 10th. Finally, Bank of America increased their price target on shares of PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a report on Thursday. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, PHINIA has a consensus rating of "Moderate Buy" and a consensus price target of $51.83.

PHINIA Company Profile

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.