Insider Buying: Portman Ridge Finance Co. (NASDAQ:PTMN) Insider Purchases 1,755 Shares of Stock

Portman Ridge Finance Co. (NASDAQ:PTMN) insider Edward J. Goldthorpe purchased 1,755 shares of the stock in a transaction dated Tuesday, May 13th. The shares were purchased at an average price of $12.48 per share, with a total value of $21,902.40. Following the completion of the transaction, the insider now owns 11,520 shares of the company’s stock, valued at approximately $143,769.60. This trade represents a 17.97% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Portman Ridge Finance Stock Up 0.6%

PTMN opened at $12.68 on Friday. The business’s 50-day simple moving average is $13.19 and its 200-day simple moving average is $15.68. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.14 and a current ratio of 3.14. Portman Ridge Finance Co. has a one year low of $11.60 and a one year high of $20.84. The stock has a market capitalization of $116.69 million, a P/E ratio of 34.27 and a beta of 0.64.

Portman Ridge Finance (NASDAQ:PTMN) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.13). Portman Ridge Finance had a net margin of 5.47% and a return on equity of 14.68%. The company had revenue of $12.12 million during the quarter, compared to analyst estimates of $14.04 million. Analysts anticipate that Portman Ridge Finance Co. will post 2.64 EPS for the current year.

Portman Ridge Finance Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, May 19th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 14.83%. The ex-dividend date is Monday, May 19th. Portman Ridge Finance’s dividend payout ratio is presently -166.37%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lowered their price target on Portman Ridge Finance from $16.00 to $14.00 and set a “market perform” rating for the company in a research report on Tuesday, April 8th.

Institutional Investors Weigh In On Portman Ridge Finance

Several institutional investors have recently modified their holdings of PTMN. Raymond James Financial Inc. purchased a new stake in shares of Portman Ridge Finance during the 4th quarter worth approximately $1,702,000. Founders Financial Alliance LLC lifted its stake in shares of Portman Ridge Finance by 6.3% during the 4th 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. Trexquant Investment LP lifted its stake in shares of Portman Ridge Finance by 50.3% during the 4th quarter. Trexquant Investment LP now owns 65,351 shares of the company’s stock worth $1,068,000 after purchasing an additional 21,859 shares during the period. Virtus ETF Advisers LLC increased its holdings in shares of Portman Ridge Finance by 25.3% during the 4th quarter. Virtus ETF Advisers LLC now owns 29,852 shares of the company’s stock worth $488,000 after buying an additional 6,031 shares during the last quarter. Finally, Bulldog Investors LLP increased its holdings in shares of Portman Ridge Finance by 155.0% during the 4th quarter. Bulldog Investors LLP now owns 216,546 shares of the company’s stock worth $3,539,000 after buying an additional 131,630 shares during the last quarter. Hedge funds and other institutional investors own 30.14% 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, mezzanine, buyout in middle market companies. It also makes acquisitions in businesses complementary to the firm's business.