Portman Ridge Finance Corp (NASDAQ:BCIC) Announces $0.09 Monthly Dividend

Portman Ridge Finance Corp (NASDAQ:BCIC) declared a monthly dividend on Thursday, August 6th. Shareholders of record on Tuesday, December 15th will be given a dividend of 0.09 per share on Wednesday, December 30th. This represents a c) annualized dividend and a yield of 14.4%. The ex-dividend date of this dividend is Tuesday, December 15th.

Portman Ridge Finance Stock Up 1.8%

NASDAQ BCIC traded up $0.13 on Friday, hitting $7.52. The stock had a trading volume of 109,859 shares, compared to its average volume of 84,512. The firm’s 50-day simple moving average is $7.30. Portman Ridge Finance has a one year low of $6.70 and a one year high of $13.50. The stock has a market cap of $93.10 million, a PE ratio of -31.33 and a beta of 0.50. The company has a debt-to-equity ratio of 1.74, a quick ratio of 4.43 and a current ratio of 4.43.

Analysts Set New Price Targets

Several research firms recently weighed in on BCIC. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Portman Ridge Finance in a report on Friday, May 22nd. Zacks Research upgraded shares of Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 13th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $9.00.

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, 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.