Portman Ridge Finance Corp (NASDAQ:BCIC) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Portman Ridge Finance Corp (NASDAQ:BCIC) have earned a consensus recommendation of “Reduce” from the five analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $9.25.

Several equities analysts recently weighed in on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Portman Ridge Finance in a research note on Friday, May 22nd. Keefe, Bruyette & Woods dropped their price objective on Portman Ridge Finance from $9.00 to $7.50 and set a “market perform” rating on the stock in a report on Monday. Oppenheimer dropped their price target on Portman Ridge Finance from $12.00 to $11.00 and set a “market perform” rating for the company in a research report on Monday. Finally, Zacks Research raised Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th.

Insider Transactions at Portman Ridge Finance

In related news, Director Dean C. Kehler sold 15,000 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $7.64, for a total transaction of $114,600.00. Following the transaction, the director directly owned 5,649 shares in the company, valued at approximately $43,158.36. The trade was a 72.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Edward J. Goldthorpe acquired 13,738 shares of the business’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 owned 99,878 shares in the company, valued at $715,126.48. The trade was a 15.95% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Portman Ridge Finance

An institutional investor recently bought a new stake in Portman Ridge Finance stock. Arlington Trust Co LLC bought a new position in Portman Ridge Finance Corp (NASDAQ:BCIC) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 2,468 shares of the company’s stock, valued at approximately $29,000. 30.14% of the stock is owned by hedge funds and other institutional investors.

Portman Ridge Finance Trading Up 1.6%

Shares of Portman Ridge Finance stock traded up $0.12 during trading hours on Monday, reaching $7.62. The stock had a trading volume of 77,639 shares, compared to its average volume of 84,853. The company’s 50 day simple moving average is $7.30. The company has a quick ratio of 4.43, a current ratio of 4.43 and a debt-to-equity ratio of 1.74. Portman Ridge Finance has a twelve month low of $6.70 and a twelve month high of $13.50. The stock has a market cap of $94.34 million, a price-to-earnings ratio of -13.85 and a beta of 0.50.

Portman Ridge Finance Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Tuesday, December 15th will be given a $0.09 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 14.2%. The ex-dividend date is Tuesday, December 15th. Portman Ridge Finance’s dividend payout ratio is -196.36%.

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.