Portman Ridge Finance (NASDAQ:BCIC) CEO Acquires $98,364.08 in Stock

Portman Ridge Finance Corp (NASDAQ:BCIC) CEO Edward Goldthorpe acquired 13,738 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was purchased at an average price of $7.16 per share, for a total transaction of $98,364.08. Following the transaction, the chief executive officer directly owned 99,878 shares of the company’s stock, valued at approximately $715,126.48. This trade represents a 15.95% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Portman Ridge Finance Trading Down 1.3%

Portman Ridge Finance stock opened at $7.05 on Friday. The company has a current ratio of 4.43, a quick ratio of 4.43 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $87.34 million, a price-to-earnings ratio of -29.39 and a beta of 0.50. Portman Ridge Finance Corp has a 1-year low of $6.70 and a 1-year high of $13.50. The business’s 50-day moving average price is $7.63.

Portman Ridge Finance Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.09 dividend. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 15.3%. Portman Ridge Finance’s dividend payout ratio (DPR) is -450.00%.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Portman Ridge Finance stock. Arlington Trust Co LLC bought a new stake in Portman Ridge Finance Corp (NASDAQ:BCIC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,468 shares of the company’s stock, valued at approximately $29,000. Hedge funds and other institutional investors own 30.14% of the company’s stock.

Analysts Set New Price Targets

BCIC has been the topic of several research analyst reports. Zacks Research raised Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. LADENBURG THALM/SH SH lowered Portman Ridge Finance from a “buy” rating to a “neutral” rating in a research note on Monday, March 9th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Portman Ridge Finance in a report on Friday, May 22nd. Keefe, Bruyette & Woods decreased their price objective on shares of Portman Ridge Finance from $14.00 to $9.00 and set a “market perform” rating for the company in a report on Tuesday, March 10th. Finally, Wall Street Zen raised shares of Portman Ridge Finance from a “sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average 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.