Portman Ridge Finance Corp (NASDAQ:BCIC) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Portman Ridge Finance Corp (NASDAQ:BCIC) have earned a consensus rating of “Reduce” from the five research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $9.25.

Several analysts recently issued reports on BCIC shares. Zacks Research raised shares of Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 13th. Keefe, Bruyette & Woods reduced their price objective on shares of Portman Ridge Finance from $9.00 to $7.50 and set a “market perform” rating for the company in a report on Monday, August 10th. Oppenheimer lowered their target price on shares of 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. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Portman Ridge Finance in a research report on Wednesday, August 19th.

Insider Activity

In related news, CEO Edward J. Goldthorpe bought 13,738 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were bought at an average price of $7.16 per share, with a total value of $98,364.08. Following the completion of the transaction, the chief executive officer directly owned 99,878 shares in the company, valued at approximately $715,126.48. This represents a 15.95% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by insiders.

Portman Ridge Finance Price Performance

BCIC stock opened at $7.30 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.45 and a quick ratio of 1.45. The company’s 50-day moving average is $7.41 and its 200-day moving average is $8.00. The stock has a market capitalization of $90.37 million, a PE ratio of -13.27 and a beta of 0.50. Portman Ridge Finance has a 1 year low of $6.70 and a 1 year high of $13.50.

Portman Ridge Finance Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Tuesday, December 15th will be issued a $0.09 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 14.8%. The ex-dividend date is Tuesday, December 15th. Portman Ridge Finance’s dividend payout ratio (DPR) is currently -196.36%.

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.