Portman Ridge Finance (NASDAQ:BCIC) Trading Up 0.7% – What’s Next?

Shares of Portman Ridge Finance Corp (NASDAQ:BCIC) rose 0.7% on Thursday . The company traded as high as $7.48 and last traded at $7.39. Approximately 149,597 shares changed hands during mid-day trading, an increase of 262% from the average session volume of 41,343 shares. The stock had previously closed at $7.34.

Wall Street Analyst Weigh In

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

Portman Ridge Finance Price Performance

The company has a market cap of $91.49 million, a price-to-earnings ratio of -30.79 and a beta of 0.50. The stock’s fifty day simple moving average is $7.30. The company has a debt-to-equity ratio of 1.74, a current ratio of 4.43 and a quick ratio of 4.43.

Insider Transactions at Portman Ridge Finance

In other news, Director Dean C. Kehler sold 15,000 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $7.64, for a total transaction of $114,600.00. Following the completion of the transaction, the director directly owned 5,649 shares in the company, valued at $43,158.36. This trade represents a 72.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward J. Goldthorpe acquired 13,738 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was bought at an average cost of $7.16 per share, for a total transaction of $98,364.08. Following the completion of the purchase, the chief executive officer owned 99,878 shares of the company’s stock, valued at $715,126.48. This trade represents a 15.95% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 1.30% of the company’s stock.

Institutional Trading of Portman Ridge Finance

A hedge fund recently bought a new position in Portman Ridge Finance stock. Arlington Trust Co LLC purchased a new position in shares of Portman Ridge Finance Corp (NASDAQ:BCIC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm 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.