Portman Ridge Finance (NASDAQ:BCIC) Director Dean Kehler Sells 23,000 Shares

Portman Ridge Finance Corp (NASDAQ:BCIC) Director Dean Kehler sold 23,000 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $7.97, for a total value of $183,310.00. Following the completion of the sale, the director directly owned 85,127 shares in the company, valued at $678,462.19. The trade was a 21.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Portman Ridge Finance Stock Down 4.2%

NASDAQ:BCIC traded down $0.33 during mid-day trading on Thursday, reaching $7.47. 216,619 shares of the company’s stock traded hands, compared to its average volume of 128,314. The company has a market cap of $92.55 million, a PE ratio of 13.11 and a beta of 0.39. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.52 and a quick ratio of 2.52. Portman Ridge Finance Corp has a 12-month low of $7.45 and a 12-month high of $15.69.

Portman Ridge Finance Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 14.5%. Portman Ridge Finance’s payout ratio is 224.56%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BCIC. Keefe, Bruyette & Woods dropped their price target on Portman Ridge Finance from $14.00 to $9.00 and set a “market perform” rating for the company in a research note on Tuesday, March 10th. Weiss Ratings lowered shares of Portman Ridge Finance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 23rd. Wall Street Zen raised shares of Portman Ridge Finance from a “sell” rating to a “hold” rating in a research report on Wednesday. Zacks Research lowered shares of Portman Ridge Finance from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 11th. Finally, 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. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $9.00.

Institutional Investors Weigh In On Portman Ridge Finance

A hedge fund recently bought a new stake in Portman Ridge Finance stock. Arlington Trust Co LLC purchased a new position in Portman Ridge Finance Corp (NASDAQ:BCIC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,468 shares of the company’s stock, valued at approximately $29,000. Hedge funds and other institutional investors own 30.14% 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.