Portman Ridge Finance (NASDAQ:BCIC) Stock Price Down 2.1% – Time to Sell?

Portman Ridge Finance Corp (NASDAQ:BCIC) was down 2.1% on Tuesday . The stock traded as low as $7.62 and last traded at $7.62. 52,948 shares were traded during trading, a decline of 16% from the average daily volume of 62,662 shares. The stock had previously closed at $7.78.

Analyst Upgrades and Downgrades

BCIC has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Portman Ridge Finance in a research note on Wednesday, August 19th. Keefe, Bruyette & Woods reduced their price target on Portman Ridge Finance from $9.00 to $7.50 and set a “market perform” rating for the company in a report on Monday, August 10th. Oppenheimer lowered their price target on 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, Zacks Research upgraded Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 13th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $9.25.

Portman Ridge Finance Trading Down 3.3%

The company has a fifty day moving average of $7.40 and a two-hundred day moving average of $8.04. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $90.37 million, a price-to-earnings ratio of -13.27 and a beta of 0.50.

Portman Ridge Finance Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Tuesday, December 15th will be paid a $0.09 dividend. The ex-dividend date is Tuesday, December 15th. This represents a c) dividend on an annualized basis and a dividend yield of 14.8%. Portman Ridge Finance’s payout ratio is presently -196.36%.

Insider Activity at Portman Ridge Finance

In other Portman Ridge Finance news, 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 acquired at an average price of $7.16 per share, with a total value of $98,364.08. Following the transaction, the chief executive officer owned 99,878 shares of the company’s stock, valued at approximately $715,126.48. This trade represents a 15.95% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.30% of the company’s stock.

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.