Portman Ridge Finance (NASDAQ:PTMN) Price Target Cut to $14.00 by Analysts at Keefe, Bruyette & Woods

Portman Ridge Finance (NASDAQ:PTMN) had its price target cut by equities research analysts at Keefe, Bruyette & Woods from $16.00 to $14.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 10.98% from the stock’s previous close.

Portman Ridge Finance Stock Up 4.1 %

PTMN traded up $0.50 during trading on Tuesday, reaching $12.62. 41,751 shares of the stock were exchanged, compared to its average volume of 44,177. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.14 and a current ratio of 3.14. The stock’s 50 day moving average price is $16.24 and its two-hundred day moving average price is $16.96. Portman Ridge Finance has a twelve month low of $12.12 and a twelve month high of $20.84. The stock has a market cap of $116.03 million, a P/E ratio of 34.10 and a beta of 0.64.

Portman Ridge Finance (NASDAQ:PTMN) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.08). Portman Ridge Finance had a net margin of 5.47% and a return on equity of 14.68%. The business had revenue of $14.40 million during the quarter, compared to analyst estimates of $15.14 million. Equities analysts expect that Portman Ridge Finance will post 2.64 EPS for the current year.

Hedge Funds Weigh In On Portman Ridge Finance

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTMN. Bulldog Investors LLP grew its stake in Portman Ridge Finance by 155.0% during the fourth quarter. Bulldog Investors LLP now owns 216,546 shares of the company’s stock worth $3,539,000 after buying an additional 131,630 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Portman Ridge Finance by 39.5% during the 4th quarter. Two Sigma Advisers LP now owns 178,200 shares of the company’s stock worth $2,912,000 after acquiring an additional 50,500 shares during the period. Two Sigma Investments LP boosted its position in shares of Portman Ridge Finance by 25.3% during the 4th quarter. Two Sigma Investments LP now owns 106,165 shares of the company’s stock worth $1,735,000 after acquiring an additional 21,425 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Portman Ridge Finance during the fourth quarter valued at approximately $1,702,000. Finally, Trexquant Investment LP raised its position in Portman Ridge Finance by 50.3% during the fourth quarter. Trexquant Investment LP now owns 65,351 shares of the company’s stock valued at $1,068,000 after purchasing an additional 21,859 shares in the last quarter. 30.14% of the stock is owned by institutional investors and hedge funds.

About Portman Ridge Finance

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, mezzanine, buyout in middle market companies. It also makes acquisitions in businesses complementary to the firm's business.