Portman Ridge Finance (NASDAQ:PTMN) Downgraded to “C+” at TheStreet

Portman Ridge Finance (NASDAQ:PTMNGet Rating) was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating in a note issued to investors on Friday, TheStreetRatingsTable reports.

NASDAQ PTMN opened at $23.15 on Friday. The stock has a market capitalization of $224.79 million, a P/E ratio of 8.87 and a beta of 1.05. Portman Ridge Finance has a 52 week low of $21.80 and a 52 week high of $25.97. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.55 and a current ratio of 2.55. The stock has a fifty day moving average of $23.59 and a 200-day moving average of $24.25.

Portman Ridge Finance (NASDAQ:PTMNGet Rating) last issued its quarterly earnings data 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 net margin of 28.00% and a return on equity of 15.19%. During the same quarter last year, the business earned $1.10 EPS. Equities research analysts forecast that Portman Ridge Finance will post 3.15 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Portman Ridge Finance during the 3rd quarter worth about $385,000. Bank of America Corp DE lifted its position in Portman Ridge Finance by 721.5% during the second quarter. Bank of America Corp DE now owns 239,812 shares of the company’s stock worth $570,000 after acquiring an additional 210,620 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Portman Ridge Finance by 19.3% during the first quarter. Morgan Stanley now owns 259,592 shares of the company’s stock worth $561,000 after acquiring an additional 41,933 shares during the period. Wells Fargo & Company MN grew its position in shares of Portman Ridge Finance by 19.0% in the fourth quarter. Wells Fargo & Company MN now owns 3,097 shares of the company’s stock valued at $77,000 after purchasing an additional 494 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Portman Ridge Finance by 47.0% during the fourth quarter. JPMorgan Chase & Co. now owns 2,195 shares of the company’s stock worth $54,000 after purchasing an additional 702 shares during the period. Institutional investors and hedge funds own 26.29% of the company’s stock.

Portman Ridge Finance Company Profile (Get Rating)

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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