Yahoo Finance David Lorber Is The Chairman & CEO of PhenixFIN Corporation (NASDAQ:PFX) And They Just Picked Up 6.2% More Shares
Investors who take an interest in PhenixFIN Corporation (NASDAQ:PFX) should definitely note that the Chairman & CEO, David Lorber, recently paid US$36.96 per share to buy US$151k worth of the stock. Although the purchase only increased their holding by 6.2%, it is still a solid purchase in our view.
See our latest analysis for PhenixFIN
PhenixFIN Insider Transactions Over The Last Year
Notably, that recent purchase by Chairman & CEO David Lorber was not the only time they bought PhenixFIN shares this year. Earlier in the year, they paid US$43.00 per share in a US$1.3m purchase. So it's clear an insider wanted to buy, even at a higher price than the current share price (being US$37.55). Their view may have changed since then, but at least it shows they felt optimistic at the time. We always take careful note of the price insiders pay when purchasing shares. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels.
While PhenixFIN insiders bought shares during the last year, they didn't sell. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. By clicking on the graph below, you can see the precise details of each insider transaction!
PhenixFIN is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Does PhenixFIN Boast High Insider Ownership?
I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. We usually like to see fairly high levels of insider ownership. Insiders own 15% of PhenixFIN shares, worth about US$12m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.
So What Do The PhenixFIN Insider Transactions Indicate?
The recent insider purchase is heartening. And an analysis of the transactions over the last year also gives us confidence. However, we note that the company didn't make a profit over the last twelve months, which makes us cautious. Insiders likely see value in PhenixFIN shares, given these transactions (along with notable insider ownership of the company). In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing PhenixFIN. While conducting our analysis, we found that PhenixFIN has 1 warning sign and it would be unwise to ignore this.
Of course PhenixFIN may not be the best stock to buy. So you may wish to see this free collection of high quality companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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