Portman Ridge Finance (NASDAQ:PTMN) Stock Price Up 1.7%

Portman Ridge Finance Co. (NASDAQ:PTMN) rose 1.7% during mid-day trading on Monday . The company traded as high as $19.30 and last traded at $19.20. Approximately 10,095 shares changed hands during trading, a decline of 42% from the average daily volume of 17,497 shares. The stock had previously closed at $18.88.

Portman Ridge Finance Price Performance

The stock’s fifty day moving average is $20.07 and its 200-day moving average is $20.20. The stock has a market capitalization of $182.59 million, a PE ratio of -9.41 and a beta of 0.83. The company has a debt-to-equity ratio of 1.53, a current ratio of 3.52 and a quick ratio of 3.52.

Portman Ridge Finance (NASDAQ:PTMN) last announced its quarterly earnings results on Wednesday, August 9th. The company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.01). Portman Ridge Finance had a positive return on equity of 13.81% and a negative net margin of 25.37%. The firm had revenue of $19.63 million for the quarter, compared to analysts’ expectations of $20.16 million. As a group, equities analysts predict that Portman Ridge Finance Co. will post 3.31 earnings per share for the current fiscal year.

Portman Ridge Finance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 14.38%. The ex-dividend date was Monday, August 21st. Portman Ridge Finance’s payout ratio is -135.29%.

Hedge Funds Weigh In On Portman Ridge Finance

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTMN. Clayton Partners LLC lifted its stake in shares of Portman Ridge Finance by 0.4% in the first quarter. Clayton Partners LLC now owns 278,071 shares of the company’s stock worth $5,731,000 after buying an additional 1,079 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Portman Ridge Finance by 5.4% in the first quarter. Advisors Asset Management Inc. now owns 162,245 shares of the company’s stock worth $3,344,000 after buying an additional 8,242 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Portman Ridge Finance by 6.0% in the second quarter. Legal & General Group Plc now owns 55,834 shares of the company’s stock worth $1,308,000 after buying an additional 3,153 shares in the last quarter. Two Sigma Investments LP lifted its stake in shares of Portman Ridge Finance by 47.9% in the fourth quarter. Two Sigma Investments LP now owns 33,767 shares of the company’s stock worth $777,000 after buying an additional 10,931 shares in the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in shares of Portman Ridge Finance in the first quarter worth about $309,000. 28.56% of the stock is owned by hedge funds and other institutional investors.

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, mezzanine, buyout in middle market companies. It also makes acquisitions in businesses complementary to the firm's business.