Keefe, Bruyette & Woods Issues Pessimistic Forecast for Portman Ridge Finance (NASDAQ:PTMN) Stock Price

Portman Ridge Finance (NASDAQ:PTMN) had its price target lowered by stock analysts at Keefe, Bruyette & Woods from $16.00 to $14.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 10.24% from the company’s previous close.

Portman Ridge Finance Stock Performance

Shares of PTMN opened at $12.70 on Tuesday. The firm has a market capitalization of $116.81 million, a P/E ratio of 34.33 and a beta of 0.64. Portman Ridge Finance has a 52 week low of $11.61 and a 52 week high of $20.84. The stock has a 50 day moving average price of $15.88 and a two-hundred day moving average price of $16.82. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.14 and a current ratio of 3.14.

Portman Ridge Finance (NASDAQ:PTMN) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.08). Portman Ridge Finance had a net margin of 5.47% and a return on equity of 14.68%. The firm had revenue of $14.40 million during the quarter, compared to analysts’ expectations of $15.14 million. Equities analysts forecast that Portman Ridge Finance will post 2.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Portman Ridge Finance

Large investors have recently modified their holdings of the company. Virtus ETF Advisers LLC boosted its position in shares of Portman Ridge Finance by 25.3% during the 4th quarter. Virtus ETF Advisers LLC now owns 29,852 shares of the company’s stock valued at $488,000 after acquiring an additional 6,031 shares during the last quarter. Confluence Investment Management LLC grew its stake in Portman Ridge Finance by 6.1% in the 1st quarter. Confluence Investment Management LLC now owns 64,165 shares of the company’s stock worth $921,000 after buying an additional 3,693 shares in the last quarter. Founders Financial Alliance LLC increased its holdings in shares of Portman Ridge Finance by 6.3% in the 4th quarter. Founders Financial Alliance LLC now owns 62,217 shares of the company’s stock worth $1,017,000 after buying an additional 3,671 shares during the last quarter. Trexquant Investment LP grew its position in Portman Ridge Finance by 50.3% in the fourth quarter. Trexquant Investment LP now owns 65,351 shares of the company’s stock worth $1,068,000 after acquiring an additional 21,859 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Portman Ridge Finance in the fourth quarter valued at $1,702,000. 30.14% of the stock is currently owned by institutional investors.

About Portman Ridge Finance

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.