Alexander Duka Buys 2,000 Shares of Portman Ridge Finance (NASDAQ:BCIC) Stock

Portman Ridge Finance Corp (NASDAQ:BCIC) Director Alexander Duka purchased 2,000 shares of the stock in a transaction dated Friday, March 20th. The stock was acquired at an average cost of $7.33 per share, for a total transaction of $14,660.00. Following the completion of the transaction, the director owned 3,000 shares of the company’s stock, valued at $21,990. The trade was a 200.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Portman Ridge Finance Trading Down 1.6%

Shares of Portman Ridge Finance stock traded down $0.12 during trading on Monday, reaching $7.22. The company’s stock had a trading volume of 251,267 shares, compared to its average volume of 138,501. Portman Ridge Finance Corp has a one year low of $7.15 and a one year high of $15.06. The company has a debt-to-equity ratio of 1.47, a quick ratio of 2.52 and a current ratio of 2.52. The firm has a market capitalization of $89.46 million, a PE ratio of 12.67 and a beta of 0.40.

Portman Ridge Finance Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.09 dividend. This represents a c) annualized dividend and a yield of 15.0%. The ex-dividend date of this dividend is Monday, June 15th. Portman Ridge Finance’s payout ratio is currently 224.56%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BCIC shares. Zacks Research cut Portman Ridge Finance from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 11th. Wall Street Zen raised shares of Portman Ridge Finance from a “sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Weiss Ratings downgraded shares of Portman Ridge Finance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 23rd. 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 on the stock in a research report on Tuesday, March 10th. Finally, LADENBURG THALM/SH SH downgraded shares of Portman Ridge Finance from a “buy” rating to a “neutral” rating in a report on Monday, March 9th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $9.00.

Institutional Trading of 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 shares of Portman Ridge Finance Corp (NASDAQ:BCIC) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,468 shares of the company’s stock, valued at approximately $29,000. Institutional investors and hedge funds 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.