Portman Ridge Finance Corp (NASDAQ:BCIC – Get Free Report) has earned an average rating of “Reduce” from the five research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $9.25.
Several equities research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Portman Ridge Finance in a research report on Wednesday, August 19th. Keefe, Bruyette & Woods reduced their price target on shares of Portman Ridge Finance from $9.00 to $7.50 and set a “market perform” rating for the company in a research report on Monday, August 10th. Oppenheimer decreased their price objective on shares of Portman Ridge Finance from $12.00 to $11.00 and set a “market perform” rating for the company in a report on Monday, August 10th. Finally, Zacks Research raised shares of Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 13th.
Portman Ridge Finance Stock Performance
Portman Ridge Finance Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Tuesday, December 15th will be paid a dividend of $0.09 per share. The ex-dividend date is Tuesday, December 15th. This represents a c) annualized dividend and a dividend yield of 14.8%. Portman Ridge Finance’s dividend payout ratio (DPR) is presently -196.36%.
Insider Activity at Portman Ridge Finance
In related news, CEO Edward J. Goldthorpe purchased 13,738 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were bought at an average price of $7.16 per share, with a total value of $98,364.08. Following the acquisition, the chief executive officer owned 99,878 shares of the company’s stock, valued at $715,126.48. This trade represents a 15.95% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.
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.
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