Dean Kehler Sells 27,378 Shares of Portman Ridge Finance (NASDAQ:BCIC) Stock

Portman Ridge Finance Corp (NASDAQ:BCIC) Director Dean Kehler sold 27,378 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $7.60, for a total transaction of $208,072.80. Following the transaction, the director directly owned 57,749 shares of the company’s stock, valued at approximately $438,892.40. This represents a 32.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Portman Ridge Finance Stock Performance

Shares of Portman Ridge Finance stock opened at $7.34 on Friday. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 1.47. Portman Ridge Finance Corp has a 1 year low of $7.15 and a 1 year high of $15.69. The stock has a market capitalization of $90.92 million, a PE ratio of 12.88 and a beta of 0.39.

Portman Ridge Finance Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.09 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 14.7%. The ex-dividend date is Monday, June 15th. Portman Ridge Finance’s payout ratio is 189.47%.

Analyst Upgrades and Downgrades

BCIC has been the subject of several recent research reports. LADENBURG THALM/SH SH lowered shares of Portman Ridge Finance from a “buy” rating to a “neutral” rating in a research note on Monday, March 9th. Keefe, Bruyette & Woods decreased their price target on shares of Portman Ridge Finance from $14.00 to $9.00 and set a “market perform” rating for the company in a report on Tuesday, March 10th. Zacks Research downgraded shares of Portman Ridge Finance from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 11th. Weiss Ratings lowered shares of Portman Ridge Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 23rd. Finally, Wall Street Zen raised shares of Portman Ridge Finance from a “sell” rating to a “hold” rating in a report on Wednesday. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $9.00.

Hedge Funds Weigh In On Portman Ridge Finance

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

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, 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.