Portman Ridge Finance (NASDAQ:PTMN) Shares Climb 3.2% – Still a Buy?

Portman Ridge Finance Corporation (NASDAQ:PTMN)’s stock price traded up 3.2% on Friday. The company traded as high as $6.17 and last traded at $6.14. 46,410 shares were traded during mid-day trading, a decline of 1% from the average daily volume of 46,716 shares. The stock had previously closed at $5.95.

Portman Ridge Finance Trading Down 3.3%

The stock has a market capitalization of $78.36 million, a price-to-earnings ratio of -6.39 and a beta of 0.60. The business has a fifty day moving average of $6.96 and a 200-day moving average of $8.27. The company has a debt-to-equity ratio of 1.54, a current ratio of 3.11 and a quick ratio of 3.11.

About Portman Ridge Finance

Portman Ridge Finance Corporation is a business development company (BDC) that provides financing to middle-market companies. The company seeks to invest in established businesses through a range of debt and equity instruments, with a primary focus on privately negotiated investments in U.S. companies.

Its portfolio may include senior secured loans, unitranche and subordinated debt, and equity investments. Portman Ridge generally targets companies across a variety of industries and uses its investments to support acquisitions, recapitalizations, refinancings, growth initiatives, and other corporate purposes.

The company was formerly known as KCAP Financial, Inc and adopted the Portman Ridge Finance name in 2019.