Portman Ridge Finance Corp (NASDAQ:BCIC) Stock Rated “Reduce” by Wall Street Brokerages

Portman Ridge Finance Corp (NASDAQ:BCIC) has been assigned an average recommendation of “Reduce” from the five research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $9.25.

Several equities analysts have recently issued reports on BCIC shares. Oppenheimer lowered their price objective on shares of Portman Ridge Finance from $12.00 to $11.00 and set a “market perform” rating on the stock in a research note on Monday, August 10th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Portman Ridge Finance in a report on Wednesday, August 19th. Finally, Keefe, Bruyette & Woods decreased their price target on Portman Ridge Finance from $9.00 to $7.50 and set a “market perform” rating for the company in a research report on Monday, August 10th.

Portman Ridge Finance Trading Down 0.3%

Shares of Portman Ridge Finance stock opened at $6.87 on Tuesday. The business has a fifty day simple moving average of $7.32 and a 200-day simple moving average of $7.46. Portman Ridge Finance has a fifty-two week low of $6.70 and a fifty-two week high of $13.50. The firm has a market cap of $85.08 million, a price-to-earnings ratio of -12.49 and a beta of 0.53. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 1.56.

Portman Ridge Finance Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Tuesday, December 15th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $1.08 dividend on an annualized basis and a yield of 15.7%. Portman Ridge Finance’s dividend payout ratio is currently -196.36%.

Portman Ridge Finance Company Profile

Portman Ridge Finance Corporation is a business development company that provides financing to middle-market businesses. The company primarily invests in privately held companies through senior secured loans, second-lien and subordinated debt, and, to a lesser extent, equity investments.

Its portfolio is generally focused on companies across a range of industries and may include first-lien, unitranche and other structured debt investments. Portman Ridge seeks to generate income from its investment portfolio while also pursuing potential long-term capital appreciation through equity and other investments.

The company is externally managed and has historically operated under the investment-management platform of Sierra Crest Investment Management LLC.