Portman Ridge Finance Co. (NASDAQ:PTMN) Short Interest Update

Portman Ridge Finance Co. (NASDAQ:PTMN) was the target of a significant growth in short interest in January. As of January 31st, there was short interest totalling 52,200 shares, a growth of 22.8% from the January 15th total of 42,500 shares. Based on an average daily trading volume, of 55,200 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.6% of the shares of the stock are short sold.

Portman Ridge Finance Trading Up 0.2 %

Shares of PTMN stock traded up $0.03 on Friday, hitting $17.31. 25,961 shares of the stock traded hands, compared to its average volume of 33,090. The firm’s 50-day moving average price is $16.62 and its two-hundred day moving average price is $17.68. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.14 and a current ratio of 3.14. The stock has a market capitalization of $159.48 million, a PE ratio of 46.79 and a beta of 1.01. Portman Ridge Finance has a twelve month low of $15.94 and a twelve month high of $20.84.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PTMN. Sequoia Financial Advisors LLC acquired a new position in shares of Portman Ridge Finance during the 3rd quarter valued at about $251,000. International Assets Investment Management LLC boosted its position in shares of Portman Ridge Finance by 1,340.3% during the 3rd quarter. International Assets Investment Management LLC now owns 43,166 shares of the company’s stock valued at $801,000 after acquiring an additional 40,169 shares during the last quarter. Confluence Investment Management LLC lifted its position in Portman Ridge Finance by 1.8% in the third quarter. Confluence Investment Management LLC now owns 60,751 shares of the company’s stock valued at $1,127,000 after buying an additional 1,072 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Portman Ridge Finance in the fourth quarter valued at about $1,702,000. Finally, Founders Financial Alliance LLC increased its stake in Portman Ridge Finance by 6.3% during the fourth quarter. Founders Financial Alliance LLC now owns 62,217 shares of the company’s stock worth $1,017,000 after purchasing an additional 3,671 shares during the period. Institutional investors and hedge funds own 30.14% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods dropped their target price on shares of Portman Ridge Finance from $19.00 to $18.00 and set a “market perform” rating for the company in a report on Thursday, November 14th.

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.