Portman Ridge Finance (NASDAQ:BCIC) Director Dean Kehler Sells 15,000 Shares of Stock

Portman Ridge Finance Corp (NASDAQ:BCIC) Director Dean Kehler sold 15,000 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $7.64, for a total value of $114,600.00. Following the sale, the director directly owned 5,649 shares of the company’s stock, valued at $43,158.36. The trade was a 72.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Portman Ridge Finance Trading Down 1.2%

Shares of BCIC opened at $7.53 on Wednesday. The company has a quick ratio of 4.43, a current ratio of 4.43 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $93.22 million, a P/E ratio of -31.37 and a beta of 0.51. The firm’s 50 day simple moving average is $7.88. Portman Ridge Finance Corp has a 12 month low of $7.11 and a 12 month high of $13.50.

Portman Ridge Finance Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.09 per share. This represents a c) dividend on an annualized basis and a dividend yield of 14.3%. The ex-dividend date of this dividend is Tuesday, September 15th. Portman Ridge Finance’s dividend payout ratio (DPR) is presently -450.00%.

Institutional Trading of Portman Ridge Finance

An institutional investor recently bought a new position in Portman Ridge Finance stock. Arlington Trust Co LLC bought a new position in Portman Ridge Finance Corp (NASDAQ:BCIC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,468 shares of the company’s stock, valued at approximately $29,000. 30.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BCIC. Zacks Research raised Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 13th. Wall Street Zen raised Portman Ridge Finance from a “sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Keefe, Bruyette & Woods decreased their target price on Portman Ridge Finance from $14.00 to $9.00 and set a “market perform” rating for the company in a research report on Tuesday, March 10th. LADENBURG THALM/SH SH downgraded Portman Ridge Finance from a “buy” rating to a “neutral” rating in a research report on Monday, March 9th. Finally, Weiss Ratings downgraded Portman Ridge Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, February 23rd. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $9.00.

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.