Portman Ridge Finance (NASDAQ:BCIC) CEO Edward Goldthorpe Acquires 13,738 Shares

Portman Ridge Finance Corp (NASDAQ:BCIC – Get Free Report) CEO Edward Goldthorpe acquired 13,738 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was acquired at an average price of $7.16 per share, for a total transaction of $98,364.08. Following the acquisition, the chief executive officer owned 99,878 shares in the company, valued at approximately $715,126.48. The trade was a 15.95% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Portman Ridge Finance Stock Performance

Shares of NASDAQ BCIC opened at $7.00 on Thursday. 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 Corp has a fifty-two week low of $6.70 and a fifty-two week high of $13.50. The firm has a market cap of $86.66 million, a price-to-earnings ratio of -29.17 and a beta of 0.50. The stock’s 50-day simple moving average is $7.66.

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Portman Ridge Finance Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a $0.09 dividend. This represents a c) annualized dividend and a yield of 15.4%. The ex-dividend date is Tuesday, September 15th. Portman Ridge Finance’s dividend payout ratio is currently -450.00%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BCIC. Wall Street Zen upgraded shares of Portman Ridge Finance from a “sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Portman Ridge Finance in a research report on Friday, May 22nd. Keefe, Bruyette & Woods dropped their target price on shares of Portman Ridge Finance from $14.00 to $9.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 10th. Zacks Research upgraded shares of Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. Finally, LADENBURG THALM/SH SH downgraded shares of Portman Ridge Finance from a “buy” rating to a “neutral” rating in a research note on Monday, March 9th. Three investment analysts have rated the stock with a Hold rating and one has 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 target price of $9.00.

View Our Latest Report on Portman Ridge Finance

Institutional Investors Weigh In On Portman Ridge Finance

A hedge fund recently bought a new stake in Portman Ridge Finance stock. Arlington Trust Co LLC acquired a new stake in Portman Ridge Finance Corp (NASDAQ:BCIC – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & 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.

About Portman Ridge Finance

(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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