Portman Ridge Finance (NASDAQ:BCIC) CEO Buys 13,738 Shares

Portman Ridge Finance Corp (NASDAQ:BCIC) CEO Edward Goldthorpe bought 13,738 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were acquired at an average price of $7.16 per share, with a total value of $98,364.08. Following the transaction, the chief executive officer directly owned 99,878 shares of the company’s stock, valued at approximately $715,126.48. This trade represents a 15.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Portman Ridge Finance Trading Down 0.7%

Shares of NASDAQ BCIC traded down $0.05 during midday trading on Wednesday, hitting $7.00. The company’s stock had a trading volume of 84,526 shares, compared to its average volume of 92,928. The stock has a market cap of $86.66 million, a price-to-earnings ratio of -29.17 and a beta of 0.50. The company has a quick ratio of 4.43, a current ratio of 4.43 and a debt-to-equity ratio of 1.74. The company’s fifty day simple moving average is $7.66. Portman Ridge Finance Corp has a one year low of $6.70 and a one year high of $13.50.

Portman Ridge Finance Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.09 per share. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 15.4%. Portman Ridge Finance’s dividend payout ratio is currently -450.00%.

Institutional Investors Weigh In On Portman Ridge Finance

A hedge fund recently bought a new position in Portman Ridge Finance stock. Arlington Trust Co LLC bought a new position in shares of Portman Ridge Finance Corp (NASDAQ:BCIC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,468 shares of the company’s stock, valued at approximately $29,000. Institutional investors own 30.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BCIC shares. LADENBURG THALM/SH SH cut Portman Ridge Finance from a “buy” rating to a “neutral” rating in a research report on Monday, March 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Portman Ridge Finance in a report on Friday, May 22nd. Keefe, Bruyette & Woods decreased their price target on Portman Ridge Finance from $14.00 to $9.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 10th. Wall Street Zen raised shares of Portman Ridge Finance from a “sell” rating to a “hold” rating in a report on Wednesday, March 18th. Finally, Zacks Research upgraded shares of Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 13th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Portman Ridge Finance presently has a consensus rating of “Reduce” and an average price target of $9.00.

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.