Portman Ridge Finance Co. (NASDAQ:PTMN – Get Free Report) saw a large drop in short interest during the month of July. As of July 15th, there was short interest totalling 16,600 shares, a drop of 65.2% from the June 30th total of 47,700 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average daily volume of 33,400 shares, the short-interest ratio is currently 0.5 days.
Portman Ridge Finance Stock Performance
NASDAQ PTMN traded up $0.03 during midday trading on Thursday, hitting $19.65. The company had a trading volume of 42,691 shares, compared to its average volume of 38,751. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.37. The stock has a market cap of $182.94 million, a price-to-earnings ratio of 11.77 and a beta of 1.01. The firm has a fifty day simple moving average of $19.52 and a two-hundred day simple moving average of $19.16. Portman Ridge Finance has a fifty-two week low of $16.27 and a fifty-two week high of $21.12.
Portman Ridge Finance (NASDAQ:PTMN – Get Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.07). The company had revenue of $16.53 million during the quarter, compared to analyst estimates of $17.48 million. Portman Ridge Finance had a return on equity of 15.21% and a net margin of 21.81%. Equities analysts forecast that Portman Ridge Finance will post 2.72 earnings per share for the current fiscal year.
Portman Ridge Finance Announces Dividend
Hedge Funds Weigh In On Portman Ridge Finance
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PTMN. Arlington Trust Co LLC bought a new stake in Portman Ridge Finance in the fourth quarter valued at approximately $36,000. Cape Investment Advisory Inc. acquired a new stake in shares of Portman Ridge Finance during the 4th quarter worth about $62,000. Founders Financial Alliance LLC acquired a new stake in shares of Portman Ridge Finance during the 4th quarter worth about $255,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Portman Ridge Finance during the 2nd quarter worth about $787,000. Finally, International Assets Investment Management LLC lifted its stake in shares of Portman Ridge Finance by 1,719.0% during the 4th quarter. International Assets Investment Management LLC now owns 58,153 shares of the company’s stock worth $1,058,000 after buying an additional 54,956 shares during the last quarter. 30.14% of the stock is currently owned by institutional investors and hedge funds.
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.
See Also
- Five stocks we like better than Portman Ridge Finance
- The 3 Best Retail Stocks to Shop for in August
- Viking Therapeutics: Pharma Stock Soars on Positive Earnings
- What to Know About Investing in Penny Stocks
- Top 3 Small Cap Stocks Emerging as Rotation Winners
- What is the Euro STOXX 50 Index?
- Bargain Alert: 3 Stocks Worth Watching While The Market Cools
Receive News & Ratings for Portman Ridge Finance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Portman Ridge Finance and related companies with MarketBeat.com's FREE daily email newsletter.