Oppenheimer Cuts Portman Ridge Finance (NASDAQ:BCIC) Price Target to $11.00

Portman Ridge Finance (NASDAQ:BCIC) had its target price reduced by equities researchers at Oppenheimer from $12.00 to $11.00 in a report released on Monday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Oppenheimer’s price target points to a potential upside of 46.18% from the stock’s previous close.

BCIC has been the topic of a number of other research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Portman Ridge Finance in a research note on Friday, May 22nd. Keefe, Bruyette & Woods reduced their price objective on shares of Portman Ridge Finance from $9.00 to $7.50 and set a “market perform” rating for the company in a research note on Monday. 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. Four 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.com, the stock currently has a consensus rating of “Reduce” and an average price target of $9.25.

Portman Ridge Finance Price Performance

Shares of BCIC stock traded up $0.03 during trading hours on Monday, reaching $7.53. 66,550 shares of the company traded hands, compared to its average volume of 84,782. Portman Ridge Finance has a 12-month low of $6.70 and a 12-month high of $13.50. The company has a debt-to-equity ratio of 1.74, a quick ratio of 4.43 and a current ratio of 4.43. The stock has a market cap of $93.16 million, a P/E ratio of -13.64 and a beta of 0.50. The stock’s 50-day moving average price is $7.30.

Insider Buying and Selling at Portman Ridge Finance

In related news, CEO Edward J. Goldthorpe acquired 13,738 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was acquired at an average price of $7.16 per share, with a total value of $98,364.08. Following the acquisition, 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 purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Dean C. Kehler sold 15,000 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $7.64, for a total value of $114,600.00. Following the transaction, the director owned 5,649 shares of the company’s stock, valued at approximately $43,158.36. The trade was a 72.64% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Portman Ridge Finance

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

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, 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.