Punch & Associates Investment Management Inc. Has $1.25 Million Stock Holdings in Portman Ridge Finance Co. (NASDAQ:PTMN)

Punch & Associates Investment Management Inc. decreased its holdings in shares of Portman Ridge Finance Co. (NASDAQ:PTMN) by 32.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 578,186 shares of the company’s stock after selling 282,726 shares during the period. Punch & Associates Investment Management Inc.’s holdings in Portman Ridge Finance were worth $1,249,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Calton & Associates Inc. acquired a new position in Portman Ridge Finance during the first quarter worth $41,000. Baird Financial Group Inc. acquired a new position in Portman Ridge Finance during the first quarter worth $48,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Portman Ridge Finance in the first quarter valued at about $66,000. Ancora Advisors LLC purchased a new stake in shares of Portman Ridge Finance in the fourth quarter valued at about $87,000. Finally, Cannell Capital LLC purchased a new stake in shares of Portman Ridge Finance in the first quarter valued at about $114,000. Hedge funds and other institutional investors own 11.47% of the company’s stock.

PTMN opened at $2.28 on Thursday. The company has a market capitalization of $171.43 million, a price-to-earnings ratio of 7.35 and a beta of 1.23. The firm’s 50-day moving average is $2.37. The company has a debt-to-equity ratio of 1.40, a quick ratio of 3.18 and a current ratio of 3.18. Portman Ridge Finance Co. has a fifty-two week low of $1.04 and a fifty-two week high of $2.48.

Portman Ridge Finance (NASDAQ:PTMN) last posted its quarterly earnings results on Thursday, May 6th. The company reported $0.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.04. The company had revenue of $18.31 million during the quarter. Portman Ridge Finance had a net margin of 128.77% and a return on equity of 13.13%. Equities analysts predict that Portman Ridge Finance Co. will post 0.31 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 1st. Shareholders of record on Wednesday, May 19th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, May 18th. This represents a $0.24 dividend on an annualized basis and a yield of 10.53%. Portman Ridge Finance’s dividend payout ratio is presently 70.59%.

Several analysts have recently commented on PTMN shares. Zacks Investment Research downgraded shares of Portman Ridge Finance from a “buy” rating to a “hold” rating in a report on Friday, July 9th. TheStreet downgraded shares of Portman Ridge Finance from a “b-” rating to a “c” rating in a report on Tuesday, May 25th.

Portman Ridge Finance Profile

Portman Ridge Finance Corp seeks investment opportunities in companies located in the US with EBITDA ranging from $5 million to $25 million. The fund targets companies operating in the fields of aerospace/ defense, business services, consumer products, education, food & beverage, healthcare, industrial & environmental services, logistic & distribution and media & telecommunications.

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Institutional Ownership by Quarter for Portman Ridge Finance (NASDAQ:PTMN)

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