Portman Ridge Finance (NASDAQ:PTMN) Stock Price Down 0.3% – Here’s Why

Portman Ridge Finance Co. (NASDAQ:PTMN) traded down 0.3% on Monday . The company traded as low as $16.30 and last traded at $16.35. Approximately 28,721 shares were traded during trading, an increase of 32% from the average session volume of 21,807 shares. The stock had previously closed at $16.40.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods dropped their price target on Portman Ridge Finance from $19.00 to $18.00 and set a “market perform” rating for the company in a research note on Thursday, November 14th.

Portman Ridge Finance Stock Performance

The company has a fifty day moving average price of $17.12 and a two-hundred day moving average price of $18.25. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.14 and a quick ratio of 3.14. The company has a market capitalization of $150.63 million, a P/E ratio of 44.19 and a beta of 1.00.

Portman Ridge Finance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 16.88%. The ex-dividend date of this dividend was Tuesday, November 19th. Portman Ridge Finance’s dividend payout ratio (DPR) is currently 745.95%.

Hedge Funds Weigh In On Portman Ridge Finance

A number of hedge funds have recently modified their holdings of the business. Sequoia Financial Advisors LLC acquired a new position in shares of Portman Ridge Finance in the third quarter worth approximately $251,000. Redhawk Wealth Advisors Inc. raised its holdings in Portman Ridge Finance by 7.6% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 43,140 shares of the company’s stock worth $800,000 after purchasing an additional 3,038 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Portman Ridge Finance by 1,340.3% in the 3rd quarter. International Assets Investment Management LLC now owns 43,166 shares of the company’s stock worth $801,000 after purchasing an additional 40,169 shares during the period. Founders Financial Alliance LLC boosted its stake in shares of Portman Ridge Finance by 74.2% in the 2nd quarter. Founders Financial Alliance LLC now owns 49,954 shares of the company’s stock valued at $980,000 after purchasing an additional 21,273 shares during the last quarter. Finally, Confluence Investment Management LLC boosted its stake in shares of Portman Ridge Finance by 1.8% in the 3rd quarter. Confluence Investment Management LLC now owns 60,751 shares of the company’s stock valued at $1,127,000 after purchasing an additional 1,072 shares during the last quarter. Institutional investors and hedge funds own 30.14% of the company’s stock.

Portman Ridge Finance Company Profile

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, mezzanine, buyout in middle market companies. It also makes acquisitions in businesses complementary to the firm's business.