Portman Ridge Finance (NASDAQ:PTMN) Trading Up 0.2%

Portman Ridge Finance Co. (NASDAQ:PTMNGet Rating) shares were up 0.2% on Thursday . The company traded as high as $22.82 and last traded at $22.77. Approximately 31,112 shares changed hands during trading, a decline of 29% from the average daily volume of 43,729 shares. The stock had previously closed at $22.72.

Separately, TheStreet downgraded Portman Ridge Finance from a “b-” rating to a “c+” rating in a report on Friday, May 13th.

The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 1.25. The company has a market cap of $221.19 million, a price-to-earnings ratio of 8.72 and a beta of 1.06. The stock has a fifty day moving average price of $22.88 and a two-hundred day moving average price of $23.82.

Portman Ridge Finance (NASDAQ:PTMNGet Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported $0.82 EPS for the quarter, hitting analysts’ consensus estimates of $0.82. Portman Ridge Finance had a return on equity of 15.19% and a net margin of 28.00%. During the same period in the previous year, the company earned $1.10 EPS. Analysts predict that Portman Ridge Finance Co. will post 3.15 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 7th. Investors of record on Tuesday, May 24th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 11.07%. The ex-dividend date was Monday, May 23rd. Portman Ridge Finance’s payout ratio is currently 96.55%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James & Associates bought a new position in shares of Portman Ridge Finance in the fourth quarter worth $513,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Portman Ridge Finance by 77.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 28,029 shares of the company’s stock valued at $694,000 after acquiring an additional 12,232 shares during the last quarter. Bulldog Investors LLP grew its position in Portman Ridge Finance by 2.7% in the fourth quarter. Bulldog Investors LLP now owns 48,369 shares of the company’s stock valued at $1,198,000 after acquiring an additional 1,284 shares during the last quarter. BlackRock Inc. grew its position in Portman Ridge Finance by 113,762.0% in the third quarter. BlackRock Inc. now owns 56,931 shares of the company’s stock valued at $1,386,000 after acquiring an additional 56,881 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in Portman Ridge Finance by 30.6% in the first quarter. Advisors Asset Management Inc. now owns 83,805 shares of the company’s stock valued at $2,026,000 after acquiring an additional 19,651 shares during the last quarter. Institutional investors own 26.29% of the company’s stock.

About Portman Ridge Finance (NASDAQ:PTMN)

Portman Ridge Finance Corporation is a business development company specializing in investments in unitranche loans (including last out), first lien loans, second lien loans, subordinated debt, equity co-investment, buyout in middle market companies. It also makes acquisitions in businesses complementary to the firm's business.

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