Portman Ridge Finance Corp to Issue Monthly Dividend of $0.09 (NASDAQ:BCIC)

Portman Ridge Finance Corp (NASDAQ:BCIC) declared a monthly dividend on Thursday, August 6th. Shareholders of record on Tuesday, December 15th will be paid a dividend of 0.09 per share on Wednesday, December 30th. This represents a c) dividend on an annualized basis and a yield of 14.4%. The ex-dividend date is Tuesday, December 15th.

Portman Ridge Finance Trading Up 1.6%

NASDAQ:BCIC traded up $0.12 during midday trading on Friday, hitting $7.51. 104,791 shares of the company traded hands, compared to its average volume of 84,502. The company has a debt-to-equity ratio of 1.74, a current ratio of 4.43 and a quick ratio of 4.43. The firm has a fifty day moving average price of $7.30. Portman Ridge Finance has a 12-month low of $6.70 and a 12-month high of $13.50. The stock has a market cap of $92.97 million, a price-to-earnings ratio of -31.16 and a beta of 0.50.

Analysts Set New Price Targets

BCIC has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Portman Ridge Finance in a research note on Friday, May 22nd. Zacks Research upgraded Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 13th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $9.00.

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.