David A. Lorber, Chairman and CEO of PhenixFIN Corp (NASDAQ:PFX), recently purchased a significant amount of the company’s common stock. According to a Form 4 filing with the Securities and Exchange Commission, Lorber acquired a total of 12,871 shares on December 18, 2024. The transactions were executed at prices ranging from $47.6101 to $48.1282 per share, amounting to a total investment of approximately $618,421. The stock, which has gained over 20% year-to-date, currently trades at $49.25, already showing appreciation from Lorber’s purchase price.
Following these purchases, Lorber’s direct ownership in PhenixFIN increased to 138,854 shares. Additionally, he holds indirect ownership of 81,662 shares through FrontFour Master Fund, Ltd., and 3,289 shares through his spouse, as reported in the filing. According to InvestingPro, the company, with a market capitalization of $99.47 million, maintains strong financials with a current ratio of 11.15 and has demonstrated solid revenue growth of 10.18% over the last twelve months.
These transactions reflect Lorber’s ongoing commitment to increasing his stake in the company, which operates as a business development company. Investors often view insider buying as a positive signal, indicating confidence in the company’s future prospects. InvestingPro analysis reveals the stock is trading near its 52-week high of $50.00, with additional insights available to subscribers.
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