Portman Ridge Finance (NASDAQ:PTMN) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Portman Ridge Finance (NASDAQ:PTMN) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “Portman Ridge Finance Corporation is an investment company. It focuses on investment in consumer products, food and beverages, heathcare, logistics and distribution, media, telecommunication, education, aerospace and defense, industrial and environmental industries. Portman Ridge Finance Corporation, formerly known as KCAP Financial Inc., is based in New York, United States. “

A number of other equities analysts also recently weighed in on PTMN. ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. TheStreet raised shares of TELUS from a c+ rating to a b- rating in a research note on Thursday, April 4th.

Shares of NASDAQ PTMN opened at $2.47 on Tuesday. Portman Ridge Finance has a fifty-two week low of $2.25 and a fifty-two week high of $3.80. The firm’s 50 day simple moving average is $2.54. The company has a market capitalization of $91.90 million, a P/E ratio of 9.15 and a beta of 0.74. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.85.

Portman Ridge Finance (NASDAQ:PTMN) last announced its earnings results on Friday, May 10th. The company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.13). Portman Ridge Finance had a negative net margin of 88.64% and a positive return on equity of 3.28%. The business had revenue of $5.80 million for the quarter. As a group, research analysts forecast that Portman Ridge Finance will post 0.21 earnings per share for the current year.

A hedge fund recently bought a new stake in Portman Ridge Finance stock. Almitas Capital LLC bought a new stake in shares of Portman Ridge Finance Corp (NASDAQ:PTMN) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 19,408 shares of the company’s stock, valued at approximately $70,000. Almitas Capital LLC owned approximately 0.05% of Portman Ridge Finance as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 22.02% of the company’s stock.

About Portman Ridge Finance

Portman Ridge Finance Corp. is a private equity fund and non-diversified closed-end investment company that invests in middle market companies generating consistent cash flows located in North America. It targets companies operating across a broad range of sectors such as aerospace and defense, automotive, beverage, food and tobacco, broadcasting and entertainment, buildings and real estate, personal and cargo transport, chemicals, plastics and rubber, containers, packaging and glass, diversified or conglomerate service, ecological, electronics, finance, and healthcare.

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