Portman Ridge Finance (NASDAQ:PTMN) Shares Down 1.6% – What’s Next?

Portman Ridge Finance Corporation (NASDAQ:PTMN)’s stock price was down 1.6% during trading on Monday . The stock traded as low as $12.46 and last traded at $12.55. Approximately 52,408 shares changed hands during mid-day trading, an increase of 9% from the average daily volume of 47,932 shares. The stock had previously closed at $12.75.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods decreased their price target on Portman Ridge Finance from $16.00 to $14.00 and set a “market perform” rating for the company in a report on Tuesday, April 8th.

Portman Ridge Finance Price Performance

The stock has a market capitalization of $115.46 million, a price-to-earnings ratio of -11.11 and a beta of 0.57. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 1.46. The company’s 50 day moving average is $12.21 and its 200 day moving average is $14.25.

Portman Ridge Finance (NASDAQ:PTMN) last posted its earnings results on Thursday, May 8th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.13). The firm had revenue of $12.12 million for the quarter, compared to analyst estimates of $14.04 million. Portman Ridge Finance had a positive return on equity of 12.04% and a negative net margin of 18.10%. Research analysts anticipate that Portman Ridge Finance Corporation will post 2.64 EPS for the current fiscal year.

Portman Ridge Finance Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Monday, May 19th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 14.98%. The ex-dividend date was Monday, May 19th. Portman Ridge Finance’s dividend payout ratio is currently -166.37%.

Institutional Trading of Portman Ridge Finance

A number of large investors have recently bought and sold shares of the business. Bulldog Investors LLP raised its holdings in shares of Portman Ridge Finance by 155.0% in the fourth quarter. Bulldog Investors LLP now owns 216,546 shares of the company’s stock valued at $3,539,000 after buying an additional 131,630 shares during the last quarter. Two Sigma Advisers LP increased its position in Portman Ridge Finance by 39.5% in the 4th quarter. Two Sigma Advisers LP now owns 178,200 shares of the company’s stock valued at $2,912,000 after acquiring an additional 50,500 shares during the period. Two Sigma Investments LP raised its stake in Portman Ridge Finance by 25.3% during the 4th quarter. Two Sigma Investments LP now owns 106,165 shares of the company’s stock valued at $1,735,000 after acquiring an additional 21,425 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Portman Ridge Finance during the 4th quarter valued at approximately $1,702,000. Finally, Founders Financial Alliance LLC lifted its position in Portman Ridge Finance by 13.3% during the 1st quarter. Founders Financial Alliance LLC now owns 70,516 shares of the company’s stock worth $1,012,000 after acquiring an additional 8,299 shares during the period. 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.