Gables Capital Management Inc. Trims Stock Holdings in Portman Ridge Finance Corporation $PTMN

Gables Capital Management Inc. reduced its stake in Portman Ridge Finance Corporation (NASDAQ:PTMN) by 22.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,689 shares of the company’s stock after selling 13,446 shares during the quarter. Gables Capital Management Inc. owned about 0.52% of Portman Ridge Finance worth $597,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PTMN. Ethos Financial Group LLC purchased a new stake in shares of Portman Ridge Finance in the first quarter valued at $183,000. Founders Financial Alliance LLC lifted its position in shares of Portman Ridge Finance by 13.3% in the first quarter. Founders Financial Alliance LLC now owns 70,516 shares of the company’s stock valued at $1,012,000 after acquiring an additional 8,299 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Portman Ridge Finance by 69.9% in the first quarter. Royal Bank of Canada now owns 16,354 shares of the company’s stock valued at $235,000 after acquiring an additional 6,730 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Portman Ridge Finance by 7.4% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 27,714 shares of the company’s stock valued at $398,000 after acquiring an additional 1,903 shares in the last quarter. 30.14% of the stock is currently owned by hedge funds and other institutional investors.

Portman Ridge Finance Stock Performance

Portman Ridge Finance stock opened at $11.37 on Wednesday. The firm has a market capitalization of $149.99 million, a P/E ratio of -12.23 and a beta of 0.60. The stock has a fifty day moving average price of $11.95 and a 200 day moving average price of $12.15. Portman Ridge Finance Corporation has a 52 week low of $11.48 and a 52 week high of $18.92. The company has a current ratio of 3.11, a quick ratio of 3.11 and a debt-to-equity ratio of 1.54.

Portman Ridge Finance (NASDAQ:PTMN) last released its earnings results on Thursday, August 7th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. The firm had revenue of $12.63 million during the quarter, compared to analyst estimates of $13.24 million. Portman Ridge Finance had a positive return on equity of 11.49% and a negative net margin of 15.92%. Equities research analysts anticipate that Portman Ridge Finance Corporation will post 2.64 earnings per share for the current year.

Portman Ridge Finance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 16.5%. The ex-dividend date was Monday, August 18th. Portman Ridge Finance’s dividend payout ratio is presently -202.15%.

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