Analysts’ Weekly Ratings Updates for Portman Ridge Finance (PTMN)

Several analysts have recently updated their ratings and price targets for Portman Ridge Finance (NASDAQ: PTMN):

  • 9/17/2019 – Portman Ridge Finance was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “
  • 9/11/2019 – Portman Ridge Finance was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “
  • 9/10/2019 – Portman Ridge Finance was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.
  • 9/4/2019 – Portman Ridge Finance was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 9/3/2019 – Portman Ridge Finance was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “
  • 8/27/2019 – Portman Ridge Finance was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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. “
  • 8/20/2019 – Portman Ridge Finance was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “
  • 8/13/2019 – Portman Ridge Finance was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “
  • 8/1/2019 – Portman Ridge Finance was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.

PTMN stock traded down $0.01 during trading on Monday, reaching $2.29. The stock had a trading volume of 800 shares, compared to its average volume of 91,108. Portman Ridge Finance Corp has a 52 week low of $2.10 and a 52 week high of $3.80. The firm’s 50 day moving average is $2.30. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market capitalization of $86.29 million, a price-to-earnings ratio of 8.48 and a beta of 0.71.

Portman Ridge Finance (NASDAQ:PTMN) last posted its earnings results on Tuesday, August 6th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). Portman Ridge Finance had a negative net margin of 86.64% and a positive return on equity of 2.41%. The firm had revenue of $6.91 million during the quarter. Research analysts predict that Portman Ridge Finance Corp will post 0.17 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Monday, August 12th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 10.48%. The ex-dividend date of this dividend was Friday, August 9th. Portman Ridge Finance’s dividend payout ratio (DPR) is currently 88.89%.

In related news, CEO Edward J. Goldthorpe acquired 11,500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average price of $2.29 per share, with a total value of $26,335.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 32,639 shares of company stock worth $73,509 in the last ninety days. Corporate insiders own 6.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Callodine Capital Management LP bought a new stake in Portman Ridge Finance during the 2nd quarter valued at approximately $3,449,000. Virtus ETF Advisers LLC bought a new stake in Portman Ridge Finance during the 2nd quarter valued at approximately $1,683,000. Confluence Investment Management LLC bought a new stake in Portman Ridge Finance during the 2nd quarter valued at approximately $766,000. Diversified Trust Co bought a new stake in Portman Ridge Finance during the 2nd quarter valued at approximately $629,000. Finally, Thoroughbred Financial Services LLC bought a new stake in Portman Ridge Finance during the 2nd quarter valued at approximately $5,697,000. 26.82% of the stock is currently owned by hedge funds and other institutional investors.

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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