Repertoire Partners LP Has $1.01 Million Position in Portman Ridge Finance Co. (NASDAQ:PTMN)

Repertoire Partners LP cut its holdings in Portman Ridge Finance Co. (NASDAQ:PTMN) by 69.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 61,855 shares of the company’s stock after selling 138,145 shares during the quarter. Portman Ridge Finance makes up about 0.4% of Repertoire Partners LP’s holdings, making the stock its 9th largest holding. Repertoire Partners LP’s holdings in Portman Ridge Finance were worth $1,011,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Virtus ETF Advisers LLC boosted its position in Portman Ridge Finance by 25.3% in the 4th quarter. Virtus ETF Advisers LLC now owns 29,852 shares of the company’s stock valued at $488,000 after buying an additional 6,031 shares during the period. Founders Financial Alliance LLC lifted its holdings in Portman Ridge Finance by 6.3% in the fourth quarter. Founders Financial Alliance LLC now owns 62,217 shares of the company’s stock valued at $1,017,000 after acquiring an additional 3,671 shares during the period. Trexquant Investment LP increased its position in shares of Portman Ridge Finance by 50.3% in the fourth quarter. Trexquant Investment LP now owns 65,351 shares of the company’s stock valued at $1,068,000 after buying an additional 21,859 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Portman Ridge Finance in the fourth quarter valued at $1,702,000. Finally, Two Sigma Investments LP boosted its holdings in shares of Portman Ridge Finance by 25.3% during the fourth quarter. Two Sigma Investments LP now owns 106,165 shares of the company’s stock worth $1,735,000 after purchasing an additional 21,425 shares during the last quarter. Hedge funds and other institutional investors own 30.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods dropped their target price on Portman Ridge Finance from $16.00 to $14.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 8th.

Portman Ridge Finance Trading Down 1.0%

NASDAQ:PTMN opened at $12.27 on Wednesday. Portman Ridge Finance Co. has a 52 week low of $11.60 and a 52 week high of $20.10. The company has a market capitalization of $112.92 million, a P/E ratio of 33.16 and a beta of 0.64. 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 $13.02 and its 200 day moving average price is $15.58.

Portman Ridge Finance (NASDAQ:PTMN) last posted its earnings results on Thursday, May 8th. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.13). The firm had revenue of $12.12 million during the quarter, compared to the consensus estimate of $14.04 million. Portman Ridge Finance had a net margin of 5.47% and a return on equity of 14.68%. On average, research analysts forecast that Portman Ridge Finance Co. will post 2.64 EPS for the current fiscal year.

Portman Ridge Finance Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, May 19th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $1.88 annualized dividend and a dividend yield of 15.32%. Portman Ridge Finance’s dividend payout ratio is presently -166.37%.

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