Portman Ridge Finance Corp (NASDAQ:BCIC) Stock Has Average Price Target of $9.25 According to Brokerages

Portman Ridge Finance Corp (NASDAQ:BCIC) has earned a consensus recommendation of “Reduce” from the five brokerages that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $9.25.

BCIC has been the topic of several recent research reports. Oppenheimer decreased their price objective on Portman Ridge Finance from $12.00 to $11.00 and set a “market perform” rating on the stock in a report on Monday, August 10th. Keefe, Bruyette & Woods reduced their target price on 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. Zacks Research cut Portman Ridge Finance from a “hold” rating to a “strong sell” rating in a research report on Monday, October 5th. Finally, Weiss Ratings upgraded shares of Portman Ridge Finance from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday.

Portman Ridge Finance Stock Down 3.3%

Shares of BCIC stock opened at $5.94 on Friday. The stock has a 50 day moving average of $6.92 and a 200-day moving average of $8.04. The firm has a market cap of $73.54 million, a PE ratio of 2.72 and a beta of 0.53. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 1.56. Portman Ridge Finance has a 12 month low of $5.78 and a 12 month high of $13.50.

Portman Ridge Finance Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Tuesday, December 15th will be issued a dividend of $0.09 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 18.2%. The ex-dividend date of this dividend is Tuesday, December 15th. Portman Ridge Finance’s dividend payout ratio (DPR) is presently -196.36%.

Portman Ridge Finance Company Profile

Portman Ridge Finance Corporation is a business development company that provides financing to privately owned, primarily middle-market companies in the United States. The company invests across the capital structure, with a focus on senior secured loans, subordinated debt and, in some cases, equity securities.

Through its investment portfolio, Portman Ridge seeks to support companies with acquisition financing, recapitalizations, refinancing and general corporate funding. Its investments may include first-lien and second-lien loans, unitranche facilities and other structured credit instruments.