Citadel Advisors LLC Purchases New Holdings in Portman Ridge Finance Corp (NASDAQ:PTMN)

Citadel Advisors LLC purchased a new stake in Portman Ridge Finance Corp (NASDAQ:PTMN) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 18,903 shares of the company’s stock, valued at approximately $43,000. Citadel Advisors LLC owned 0.05% of Portman Ridge Finance at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Creative Planning bought a new stake in shares of Portman Ridge Finance in the second quarter valued at approximately $82,000. HighTower Advisors LLC bought a new stake in shares of Portman Ridge Finance in the second quarter valued at approximately $34,000. Callodine Capital Management LP bought a new stake in shares of Portman Ridge Finance in the second quarter valued at approximately $3,449,000. Independent Advisor Alliance bought a new stake in shares of Portman Ridge Finance in the second quarter valued at approximately $98,000. Finally, Virtus ETF Advisers LLC bought a new stake in shares of Portman Ridge Finance in the second quarter valued at approximately $1,683,000. Institutional investors and hedge funds own 26.82% of the company’s stock.

In other news, CEO Edward J. Goldthorpe acquired 11,500 shares of the stock in a transaction on Tuesday, August 13th. The stock was acquired at an average cost of $2.29 per share, for a total transaction of $26,335.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have acquired 32,639 shares of company stock valued at $73,509. Company insiders own 6.30% of the company’s stock.

Several brokerages recently issued reports on PTMN. Zacks Investment Research cut Portman Ridge Finance from a “hold” rating to a “sell” rating in a research note on Tuesday. ValuEngine upgraded Portman Ridge Finance from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, TheStreet downgraded shares of Portman Ridge Finance from a “c-” rating to a “d+” rating in a research report on Wednesday, July 17th.

Shares of PTMN opened at $2.21 on Friday. Portman Ridge Finance Corp has a one year low of $2.10 and a one year high of $3.80. The firm has a market capitalization of $82.56 million, a P/E ratio of 8.19 and a beta of 0.71. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.88. The company’s 50 day moving average price is $2.29.

Portman Ridge Finance (NASDAQ:PTMN) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, missing the consensus estimate 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 for the quarter. Equities analysts expect that Portman Ridge Finance Corp will post 0.17 earnings per share for the current year.

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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Institutional Ownership by Quarter for Portman Ridge Finance (NASDAQ:PTMN)

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