Portman Ridge Finance (NASDAQ:BCIC) Trading Up 1.8% – Still a Buy?

Portman Ridge Finance Corp (NASDAQ:BCIC)’s share price rose 1.8% during mid-day trading on Wednesday . The company traded as high as $7.44 and last traded at $7.43. Approximately 36,001 shares changed hands during trading, a decline of 38% from the average daily volume of 58,331 shares. The stock had previously closed at $7.30.

Analysts Set New Price Targets

BCIC has been the subject of several recent analyst reports. Zacks Research raised shares of Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 13th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Portman Ridge Finance in a report on Friday, May 22nd. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $9.00.

Portman Ridge Finance Price Performance

The firm has a market cap of $90.19 million, a P/E ratio of -30.35 and a beta of 0.49. The firm has a fifty day moving average of $7.46. The company has a debt-to-equity ratio of 1.74, a current ratio of 4.43 and a quick ratio of 4.43.

Portman Ridge Finance Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 14.8%. Portman Ridge Finance’s payout ratio is -450.00%.

Insiders Place Their Bets

In related news, CEO Edward J. Goldthorpe acquired 13,738 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were bought at an average price of $7.16 per share, for a total transaction of $98,364.08. Following the acquisition, the chief executive officer owned 99,878 shares in the company, valued at $715,126.48. This trade represents a 15.95% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dean C. Kehler sold 15,000 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $7.64, for a total transaction of $114,600.00. Following the transaction, the director directly owned 5,649 shares of the company’s stock, valued at $43,158.36. This represents a 72.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Portman Ridge Finance

An institutional investor recently bought a new stake in Portman Ridge Finance stock. Arlington Trust Co LLC purchased a new stake in Portman Ridge Finance Corp (NASDAQ:BCIC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,468 shares of the company’s stock, valued at approximately $29,000. 30.14% of the stock is 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.