Portman Ridge Finance Co. (NASDAQ:PTMN) Short Interest Update

Portman Ridge Finance Co. (NASDAQ:PTMN) was the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 322,200 shares, a growth of 24.8% from the March 31st total of 258,200 shares. Based on an average daily volume of 466,000 shares, the short-interest ratio is currently 0.7 days.

A number of research firms have issued reports on PTMN. TheStreet upgraded Portman Ridge Finance from a “c-” rating to a “b-” rating in a research note on Monday, April 5th. Zacks Investment Research upgraded Portman Ridge Finance from a “hold” rating to a “buy” rating and set a $2.25 target price on the stock in a research note on Tuesday, January 5th.

Shares of NASDAQ PTMN traded down $0.04 during midday trading on Tuesday, reaching $2.37. The company’s stock had a trading volume of 254,612 shares, compared to its average volume of 425,444. Portman Ridge Finance has a 12-month low of $0.99 and a 12-month high of $2.45. The firm has a 50 day moving average price of $2.27 and a 200-day moving average price of $1.88. The stock has a market capitalization of $178.21 million, a P/E ratio of -8.17 and a beta of 1.34. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.72 and a quick ratio of 1.72.

Portman Ridge Finance (NASDAQ:PTMN) last announced its quarterly earnings data on Thursday, March 11th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. Portman Ridge Finance had a positive return on equity of 7.87% and a negative net margin of 47.13%. On average, equities analysts predict that Portman Ridge Finance will post 0.24 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 2nd. Investors of record on Monday, February 22nd were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 10.13%. The ex-dividend date of this dividend was Friday, February 19th. Portman Ridge Finance’s dividend payout ratio (DPR) is currently 300.00%.

A number of institutional investors and hedge funds have recently made changes to their positions in PTMN. BlackRock Inc. purchased a new stake in Portman Ridge Finance in the 4th quarter worth about $2,646,000. Caxton Corp purchased a new stake in Portman Ridge Finance in the 4th quarter worth about $571,000. Clear Harbor Asset Management LLC purchased a new stake in Portman Ridge Finance in the 4th quarter worth about $540,000. Signaturefd LLC purchased a new stake in Portman Ridge Finance in the 4th quarter worth about $160,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in Portman Ridge Finance in the 4th quarter worth about $101,000. 12.78% of the stock is owned by institutional investors.

About Portman Ridge Finance

Portman Ridge Finance Corp. operates as a non-diversified management investment company. The firm targets companies operating in the fields of aerospace/ defense, business services, consumer products, education, food & beverage, healthcare, industrial & environmental services, logistic & distribution and media & telecommunications.

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