Portman Ridge Finance (NASDAQ:PTMN) Upgraded by Zacks Investment Research to “Buy”

Portman Ridge Finance (NASDAQ:PTMNGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Zacks.com reports. The firm currently has a $25.00 target price on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 8.41% from the stock’s current price.

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. “

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

Shares of NASDAQ PTMN traded down $0.09 during midday trading on Tuesday, reaching $23.06. 100 shares of the company’s stock were exchanged, compared to its average volume of 33,736. Portman Ridge Finance has a 52-week low of $21.80 and a 52-week high of $25.97. The stock has a market capitalization of $223.91 million, a PE ratio of 8.84 and a beta of 1.05. 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 business’s fifty day moving average price is $23.59 and its two-hundred day moving average price is $24.25.

Portman Ridge Finance (NASDAQ:PTMNGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported $0.82 earnings per share for the quarter, meeting the consensus estimate 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 last year, the company earned $1.10 earnings per share. Analysts predict that Portman Ridge Finance will post 3.15 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Clayton Partners LLC boosted its position in shares of Portman Ridge Finance by 29.3% during the first quarter. Clayton Partners LLC now owns 269,468 shares of the company’s stock worth $6,516,000 after buying an additional 61,006 shares during the period. BlackRock Inc. boosted its position in shares of Portman Ridge Finance by 9.4% during the fourth quarter. BlackRock Inc. now owns 62,270 shares of the company’s stock worth $1,542,000 after buying an additional 5,339 shares during the period. Wells Fargo & Company MN boosted its position in shares of Portman Ridge Finance by 19.0% during the fourth quarter. Wells Fargo & Company MN now owns 3,097 shares of the company’s stock worth $77,000 after buying an additional 494 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Portman Ridge Finance by 52.2% during the fourth quarter. Advisors Asset Management Inc. now owns 64,154 shares of the company’s stock worth $1,588,000 after buying an additional 22,008 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Portman Ridge Finance by 11.2% during the fourth quarter. Legal & General Group Plc now owns 52,681 shares of the company’s stock worth $1,303,000 after buying an additional 5,292 shares during the period. 26.29% of the stock is owned by institutional investors.

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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