Zacks Investment Research upgraded shares of Portman Ridge Finance (NASDAQ:PTMN) from a sell rating to a hold rating in a report released on Wednesday morning, Zacks.com reports.
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. “
PTMN has been the subject of a number of other research reports. ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. TheStreet raised shares of TELUS from a c+ rating to a b- rating in a research report on Thursday, April 4th.
PTMN opened at $2.40 on Wednesday. The business’s 50 day simple moving average is $2.51. The firm has a market cap of $87.04 million, a P/E ratio of 15.53 and a beta of 0.74. Portman Ridge Finance has a 1 year low of $2.25 and a 1 year high of $3.80. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.24 and a current ratio of 0.24.
Portman Ridge Finance (NASDAQ:PTMN) last posted its earnings results on Friday, May 10th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.13). The business had revenue of $5.80 million for the quarter. Portman Ridge Finance had a positive return on equity of 3.28% and a negative net margin of 88.64%. On average, analysts expect that Portman Ridge Finance will post 0.21 EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Almitas Capital LLC purchased a new position in Portman Ridge Finance during the first quarter valued at $70,000. Diversified Trust Co purchased a new position in Portman Ridge Finance during the second quarter valued at $629,000. Finally, Thoroughbred Financial Services LLC purchased a new position in Portman Ridge Finance during the second quarter valued at $5,697,000. 22.02% of the stock is owned by hedge funds and other institutional investors.
About Portman Ridge Finance
Portman Ridge Finance Corp. is a private equity fund and non-diversified closed-end investment company that invests in middle market companies generating consistent cash flows located in North America. It targets companies operating across a broad range of sectors such as aerospace and defense, automotive, beverage, food and tobacco, broadcasting and entertainment, buildings and real estate, personal and cargo transport, chemicals, plastics and rubber, containers, packaging and glass, diversified or conglomerate service, ecological, electronics, finance, and healthcare.
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