Portman Ridge Finance (NASDAQ:PTMN) Trading Up 1.7%

Portman Ridge Finance Co. (NASDAQ:PTMN) shares were up 1.7% during trading on Monday . The company traded as high as $19.30 and last traded at $19.20. Approximately 10,095 shares changed hands during trading, a decline of 42% from the average daily volume of 17,497 shares. The stock had previously closed at $18.88.

Portman Ridge Finance Price Performance

The business’s 50-day moving average price is $20.07 and its 200 day moving average price is $20.20. The stock has a market capitalization of $182.59 million, a PE ratio of -9.41 and a beta of 0.83. The company has a debt-to-equity ratio of 1.53, a quick ratio of 3.52 and a current ratio of 3.52.

Portman Ridge Finance (NASDAQ:PTMN) last announced its earnings results on Wednesday, August 9th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.01). The company had revenue of $19.63 million during the quarter, compared to analysts’ expectations of $20.16 million. Portman Ridge Finance had a positive return on equity of 13.81% and a negative net margin of 25.37%. Research analysts forecast that Portman Ridge Finance Co. will post 3.31 earnings per share for the current year.

Portman Ridge Finance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 14.38%. The ex-dividend date was Monday, August 21st. Portman Ridge Finance’s dividend payout ratio is presently -135.29%.

Institutional Trading of Portman Ridge Finance

Hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley raised its stake in shares of Portman Ridge Finance by 39.1% during the fourth quarter. Morgan Stanley now owns 8,040 shares of the company’s stock valued at $185,000 after acquiring an additional 2,260 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Portman Ridge Finance during the first quarter valued at about $309,000. Mackenzie Financial Corp increased its position in shares of Portman Ridge Finance by 40.4% during the first quarter. Mackenzie Financial Corp now owns 35,141 shares of the company’s stock valued at $724,000 after buying an additional 10,104 shares during the period. Two Sigma Investments LP increased its position in shares of Portman Ridge Finance by 47.9% during the fourth quarter. Two Sigma Investments LP now owns 33,767 shares of the company’s stock valued at $777,000 after buying an additional 10,931 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Portman Ridge Finance by 6.0% during the second quarter. Legal & General Group Plc now owns 55,834 shares of the company’s stock valued at $1,308,000 after buying an additional 3,153 shares during the period. 28.56% of the stock is owned by institutional investors.

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.