Portman Ridge Finance (NASDAQ:BCIC) Posts Earnings Results, Beats Expectations By $0.23 EPS

Portman Ridge Finance (NASDAQ:BCIC) issued its quarterly earnings data on Thursday. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.23, Zacks reports. Portman Ridge Finance had a net margin of 18.79% and a return on equity of 12.91%.

Portman Ridge Finance Stock Performance

Shares of NASDAQ:BCIC traded down $0.04 on Thursday, hitting $7.86. 90,790 shares of the company’s stock were exchanged, compared to its average volume of 95,204. The stock’s 50-day moving average is $8.42. The stock has a market capitalization of $97.31 million, a P/E ratio of 13.79 and a beta of 0.51. Portman Ridge Finance has a 1-year low of $7.11 and a 1-year high of $13.50. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.52 and a quick ratio of 2.52.

Portman Ridge Finance Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.09 per share. This represents a c) annualized dividend and a dividend yield of 13.7%. The ex-dividend date of this dividend is Monday, June 15th. Portman Ridge Finance’s dividend payout ratio is currently 189.47%.

Insider Activity

In other news, Director Dean C. Kehler sold 27,378 shares of the company’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $7.60, for a total transaction of $208,072.80. Following the completion of the transaction, the director directly owned 57,749 shares of the company’s stock, valued at approximately $438,892.40. This represents a 32.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 80,021 shares of company stock worth $652,828. Corporate insiders own 2.11% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BCIC shares. Zacks Research lowered shares of Portman Ridge Finance from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 11th. Wall Street Zen upgraded Portman Ridge Finance from a “sell” rating to a “hold” rating in a research note on Wednesday, March 18th. LADENBURG THALM/SH SH lowered shares of Portman Ridge Finance from a “buy” rating to a “neutral” rating in a research note on Monday, March 9th. Weiss Ratings lowered shares of Portman Ridge Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 23rd. Finally, Keefe, Bruyette & Woods lowered their target price on Portman Ridge Finance from $14.00 to $9.00 and set a “market perform” rating for the company in a research note on Tuesday, March 10th. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Portman Ridge Finance has a consensus 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.