Portman Ridge Finance Corp (NASDAQ:BCIC) Receives Consensus Recommendation of “Reduce” from Analysts

Portman Ridge Finance Corp (NASDAQ:BCICGet Free Report) has been assigned an average recommendation of “Reduce” from the five analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $9.25.

A number of research firms recently commented on BCIC. Weiss Ratings restated a “sell (d+)” rating on shares of Portman Ridge Finance in a report on Friday, May 22nd. Zacks Research raised Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 13th. Keefe, Bruyette & Woods decreased their price target on shares of Portman Ridge Finance from $9.00 to $7.50 and set a “market perform” rating on the stock in a research report on Monday, August 10th. Finally, Oppenheimer lowered their price objective on Portman Ridge Finance from $12.00 to $11.00 and set a “market perform” rating on the stock in a research report on Monday, August 10th.

Get Our Latest Stock Analysis on Portman Ridge Finance

Insider Transactions at Portman Ridge Finance

In related news, CEO Edward J. Goldthorpe acquired 13,738 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was bought at an average cost of $7.16 per share, with a total value of $98,364.08. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Portman Ridge Finance stock. Arlington Trust Co LLC acquired a new stake in Portman Ridge Finance Corp (NASDAQ:BCICFree Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,468 shares of the company’s stock, valued at approximately $29,000. 30.14% of the stock is currently owned by institutional investors.

Portman Ridge Finance Stock Performance

Portman Ridge Finance stock opened at $7.65 on Monday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 1.56. Portman Ridge Finance has a 12 month low of $6.70 and a 12 month high of $13.50. The company’s fifty day simple moving average is $7.31 and its 200-day simple moving average is $8.45. The stock has a market cap of $94.71 million, a P/E ratio of -13.91 and a beta of 0.50.

Portman Ridge Finance Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Tuesday, December 15th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a c) dividend on an annualized basis and a dividend yield of 14.1%. Portman Ridge Finance’s dividend payout ratio is presently -196.36%.

Portman Ridge Finance Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Portman Ridge Finance (NASDAQ:BCIC)

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