Portman Ridge Finance (NASDAQ:BCIC) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of Portman Ridge Finance (NASDAQ:BCIC) from a hold rating to a strong sell rating in a report issued on Monday morning,Zacks reports.

Other research analysts have also issued research reports about the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Portman Ridge Finance in a research note on Wednesday, August 19th. Oppenheimer lowered their price objective on shares of Portman Ridge Finance from $12.00 to $11.00 and set a “market perform” rating for the company in a research note on Monday, August 10th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Portman Ridge Finance from $9.00 to $7.50 and set a “market perform” rating on the stock in a report on Monday, August 10th. Three research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $9.25.

Portman Ridge Finance Stock Performance

Shares of Portman Ridge Finance stock opened at $6.88 on Monday. The firm has a market capitalization of $85.17 million, a P/E ratio of -12.51 and a beta of 0.53. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 1.56. The company has a 50 day moving average price of $7.31 and a 200 day moving average price of $7.45. Portman Ridge Finance has a 52 week low of $6.70 and a 52 week high of $13.50.

Portman Ridge Finance Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, December 30th. Investors of record on Tuesday, December 15th will be given a $0.09 dividend. The ex-dividend date is Tuesday, December 15th. This represents a $1.08 dividend on an annualized basis and a yield of 15.7%. Portman Ridge Finance’s dividend payout ratio is currently -196.36%.

Portman Ridge Finance Company Profile

Portman Ridge Finance Corporation is a business development company that provides financing to middle-market businesses. The company primarily invests in privately held companies through senior secured loans, second-lien and subordinated debt, and, to a lesser extent, equity investments.

Its portfolio is generally focused on companies across a range of industries and may include first-lien, unitranche and other structured debt investments. Portman Ridge seeks to generate income from its investment portfolio while also pursuing potential long-term capital appreciation through equity and other investments.

The company is externally managed and has historically operated under the investment-management platform of Sierra Crest Investment Management LLC.