Portman Ridge Finance (NASDAQ:BCIC) Trading 1.3% Higher – Here’s What Happened

Portman Ridge Finance Corp (NASDAQ:BCIC)’s share price traded up 1.3% on Wednesday . The stock traded as high as $7.62 and last traded at $7.61. 31,132 shares were traded during mid-day trading, a decline of 56% from the average session volume of 71,116 shares. The stock had previously closed at $7.51.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Portman Ridge Finance in a research note on Friday, May 22nd. Zacks Research raised shares of Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. Wall Street Zen upgraded shares of Portman Ridge Finance from a “sell” rating to a “hold” rating in a report on Wednesday, March 18th. LADENBURG THALM/SH SH cut shares of Portman Ridge Finance from a “buy” rating to a “neutral” rating in a research report on Monday, March 9th. Finally, Keefe, Bruyette & Woods cut their target price on Portman Ridge Finance from $14.00 to $9.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 10th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Portman Ridge Finance presently has a consensus rating of “Reduce” and a consensus target price of $9.00.

Portman Ridge Finance Stock Down 0.7%

The stock has a market capitalization of $92.35 million, a P/E ratio of 3.25 and a beta of 0.50. The company has a current ratio of 4.43, a quick ratio of 4.43 and a debt-to-equity ratio of 1.74. The business’s 50-day moving average is $7.75.

Portman Ridge Finance Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 14.5%. Portman Ridge Finance’s payout ratio is presently -450.00%.

Insider Transactions at Portman Ridge Finance

In other Portman Ridge Finance news, Director Dean C. Kehler sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $7.64, for a total value of $114,600.00. Following the sale, the director owned 5,649 shares of the company’s stock, valued at $43,158.36. The trade was a 72.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 68,467 shares of company stock valued at $530,757 over the last 90 days. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Portman Ridge Finance

An institutional investor recently bought a new position in Portman Ridge Finance stock. Arlington Trust Co LLC bought a new position in shares of Portman Ridge Finance Corp (NASDAQ:BCIC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,468 shares of the company’s stock, valued at approximately $29,000. 30.14% of the stock is owned by institutional investors and hedge funds.

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.