International Assets Investment Management LLC Boosts Stock Holdings in Portman Ridge Finance Co. (NASDAQ:PTMN)

International Assets Investment Management LLC boosted its stake in Portman Ridge Finance Co. (NASDAQ:PTMN) by 1,719.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,153 shares of the company’s stock after purchasing an additional 54,956 shares during the quarter. International Assets Investment Management LLC owned about 0.62% of Portman Ridge Finance worth $1,058,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PTMN. Punch & Associates Investment Management Inc. lifted its position in shares of Portman Ridge Finance by 2.6% in the third quarter. Punch & Associates Investment Management Inc. now owns 119,115 shares of the company’s stock worth $2,293,000 after buying an additional 3,074 shares in the last quarter. Virtus ETF Advisers LLC raised its holdings in shares of Portman Ridge Finance by 108.1% during the 3rd quarter. Virtus ETF Advisers LLC now owns 18,374 shares of the company’s stock worth $354,000 after acquiring an additional 9,546 shares in the last quarter. WINTON GROUP Ltd bought a new position in shares of Portman Ridge Finance during the 3rd quarter valued at approximately $202,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Portman Ridge Finance in the third quarter valued at $239,000. Finally, Advisors Asset Management Inc. increased its position in Portman Ridge Finance by 6.5% in the third quarter. Advisors Asset Management Inc. now owns 159,568 shares of the company’s stock worth $3,072,000 after purchasing an additional 9,765 shares during the last quarter. Institutional investors own 30.14% of the company’s stock.

Portman Ridge Finance Stock Up 1.1 %

Shares of PTMN opened at $19.40 on Tuesday. The company has a quick ratio of 5.92, a current ratio of 5.92 and a debt-to-equity ratio of 1.51. The business has a fifty day moving average of $18.87 and a 200 day moving average of $18.20. The company has a market cap of $181.20 million, a PE ratio of 16.17 and a beta of 0.95. Portman Ridge Finance Co. has a 52-week low of $16.27 and a 52-week high of $21.20.

Portman Ridge Finance (NASDAQ:PTMN) last released its earnings results on Wednesday, March 13th. The company reported $1.19 earnings per share (EPS) for the quarter. The firm had revenue of $17.79 million during the quarter, compared to analyst estimates of $18.56 million. Portman Ridge Finance had a net margin of 14.91% and a return on equity of 16.02%. On average, sell-side analysts expect that Portman Ridge Finance Co. will post 2.86 EPS for the current year.

Portman Ridge Finance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 25th were issued a $0.69 dividend. The ex-dividend date was Friday, March 22nd. This represents a $2.76 annualized dividend and a dividend yield of 14.23%. Portman Ridge Finance’s payout ratio is 230.00%.

Analysts Set New Price Targets

PTMN has been the subject of several research reports. Keefe, Bruyette & Woods lowered their price objective on shares of Portman Ridge Finance from $20.50 to $20.00 and set a “market perform” rating for the company in a research report on Monday, March 18th. Oppenheimer reiterated a “market perform” rating and issued a $20.00 price target on shares of Portman Ridge Finance in a research report on Friday, March 15th.

Portman Ridge Finance 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.