Zacks Research Downgrades Portman Ridge Finance (NASDAQ:BCIC) to Strong Sell

Portman Ridge Finance (NASDAQ:BCIC) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Wednesday,Zacks.com reports.

A number of other research analysts have also recently issued reports on the stock. LADENBURG THALM/SH SH cut shares of Portman Ridge Finance from a “buy” rating to a “neutral” rating in a research report on Monday. Keefe, Bruyette & Woods decreased their target price on shares of Portman Ridge Finance from $14.00 to $9.00 and set a “market perform” rating for the company in a research note on Tuesday. Weiss Ratings lowered shares of Portman Ridge Finance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 23rd. Finally, Wall Street Zen cut Portman Ridge Finance from a “buy” rating to a “sell” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $9.00.

Portman Ridge Finance Stock Performance

Shares of BCIC stock traded up $0.01 during mid-day trading on Wednesday, reaching $8.54. 120,005 shares of the company’s stock traded hands, compared to its average volume of 80,778. The stock has a market cap of $105.76 million, a PE ratio of 15.06 and a beta of 0.39. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 1.47. Portman Ridge Finance has a 12 month low of $8.45 and a 12 month high of $16.42.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Portman Ridge Finance stock. Arlington Trust Co LLC acquired a new stake in shares of Portman Ridge Finance Corp (NASDAQ:BCIC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,468 shares of the company’s stock, valued at approximately $29,000. Institutional investors own 30.14% of the company’s stock.

About Portman Ridge Finance

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, buyout in middle market companies. It also makes acquisitions in businesses complementary to the firm’s business. It primarily invests in healthcare, cargo transport, manufacturing, industrial & environmental services, logistics & distribution, media & telecommunications, real estate, education, automotive, agriculture, aerospace/defense, packaging, electronics, finance, non-durable consumer, consumer products, business services, utilities, insurance, and food and beverage sectors.