Portman Ridge Finance (NASDAQ:BCIC) Upgraded to “Hold” at Zacks Research

Portman Ridge Finance (NASDAQ:BCIC) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

BCIC has been the subject of several other reports. Keefe, Bruyette & Woods reduced their price objective on Portman Ridge Finance from $14.00 to $9.00 and set a “market perform” rating for the company in a research note on Tuesday, March 10th. LADENBURG THALM/SH SH downgraded Portman Ridge Finance from a “buy” rating to a “neutral” rating in a research note on Monday, March 9th. Wall Street Zen raised Portman Ridge Finance from a “sell” rating to a “hold” rating in a research note on Wednesday, March 18th. Finally, Weiss Ratings downgraded Portman Ridge Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 23rd. Three 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 has an average rating of “Reduce” and a consensus target price of $9.00.

Portman Ridge Finance Stock Performance

NASDAQ BCIC opened at $7.87 on Wednesday. The company has a fifty day moving average price of $8.08. Portman Ridge Finance has a one year low of $7.11 and a one year high of $13.50. The company has a current ratio of 4.43, a quick ratio of 2.52 and a debt-to-equity ratio of 1.74. The firm has a market cap of $97.43 million, a P/E ratio of -32.79 and a beta of 0.51.

Insider Activity

In related news, Director Dean C. Kehler sold 27,378 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $7.60, for a total transaction of $208,072.80. Following the completion of the sale, the director directly owned 57,749 shares of the company’s stock, valued at approximately $438,892.40. This trade represents a 32.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 80,021 shares of company stock worth $652,828. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of Portman Ridge Finance

An institutional investor recently bought a new position in Portman Ridge Finance stock. Arlington Trust Co LLC acquired a new position in shares of Portman Ridge Finance Corp (NASDAQ:BCIC) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,468 shares of the company’s stock, valued at approximately $29,000. 30.14% of the stock is currently owned by hedge funds and other institutional investors.

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.