Alexander Duka Purchases 2,000 Shares of Portman Ridge Finance (NASDAQ:BCIC) Stock

Portman Ridge Finance Corp (NASDAQ:BCIC) Director Alexander Duka acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The stock was purchased at an average cost of $7.33 per share, with a total value of $14,660.00. Following the purchase, the director directly owned 3,000 shares in the company, valued at approximately $21,990. This trade represents a 200.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Portman Ridge Finance Trading Down 1.6%

NASDAQ BCIC traded down $0.12 on Monday, hitting $7.22. 251,267 shares of the stock were exchanged, compared to its average volume of 138,501. The company has a debt-to-equity ratio of 1.47, a quick ratio of 2.52 and a current ratio of 2.52. Portman Ridge Finance Corp has a 52-week low of $7.15 and a 52-week high of $15.06. The stock has a market cap of $89.46 million, a price-to-earnings ratio of 12.67 and a beta of 0.40.

Portman Ridge Finance Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.09 dividend. This represents a c) annualized dividend and a yield of 15.0%. The ex-dividend date is Monday, June 15th. Portman Ridge Finance’s dividend payout ratio is currently 224.56%.

Institutional Investors Weigh In On Portman Ridge Finance

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BCIC shares. Wall Street Zen raised shares of Portman Ridge Finance from a “sell” rating to a “hold” rating in a research note on Wednesday, March 18th. Keefe, Bruyette & Woods cut their price objective on Portman Ridge Finance from $14.00 to $9.00 and set a “market perform” rating for the company in a report on Tuesday, March 10th. Weiss Ratings cut Portman Ridge Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, February 23rd. Zacks Research lowered Portman Ridge Finance from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 11th. Finally, LADENBURG THALM/SH SH downgraded Portman Ridge Finance from a “buy” rating to a “neutral” rating in a research note on Monday, March 9th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on 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.