PhenixFIN (NYSE:PFX) Stock Rating Lowered by Zacks Research

PhenixFIN (NYSE:PFX) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday, Zacks reports.

PhenixFIN Price Performance

PFX stock opened at $44.59 on Monday. The stock’s fifty day simple moving average is $46.72 and its 200-day simple moving average is $43.70. PhenixFIN has a 52-week low of $38.30 and a 52-week high of $56.48. The stock has a market capitalization of $86.10 million, a price-to-earnings ratio of 5.47 and a beta of 0.32. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.87.

Institutional Investors Weigh In On PhenixFIN

An institutional investor recently bought a new stake in PhenixFIN stock. Legal & General Group Plc acquired a new position in shares of PhenixFIN Co. (NYSE:PFX) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 15,140 shares of the company’s stock, valued at approximately $655,000. Legal & General Group Plc owned about 0.78% of PhenixFIN as of its most recent SEC filing. Hedge funds and other institutional investors own 43.35% of the company’s stock.

About PhenixFIN

PhenixFIN Corporation (NYSE:PFX) is a business development company (BDC) that provides financing to privately owned, middle-market companies. The company seeks to generate income and long-term capital appreciation by investing in businesses that may have limited access to traditional sources of capital.

PhenixFIN primarily invests in senior secured loans, including first-lien and unitranche facilities, as well as second-lien and subordinated debt. It may also make equity investments and acquire other securities in connection with its financing activities.