Portman Ridge Finance (NASDAQ:BCIC) Stock Price Breaks Above 50 Day Moving Average – Should You Sell?

Portman Ridge Finance Corp (NASDAQ:BCIC)’s share price crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $6.71 and traded as high as $6.96. Portman Ridge Finance shares last traded at $6.89, with a volume of 197,874 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Keefe, Bruyette & Woods decreased their target price 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. Oppenheimer dropped their price target on shares of Portman Ridge Finance from $12.00 to $11.00 and set a “market perform” rating on the stock in a report on Monday, August 10th. Zacks Research upgraded shares of Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 3rd. Finally, Weiss Ratings upgraded shares of Portman Ridge Finance from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, October 28th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Portman Ridge Finance currently has a consensus rating of “Reduce” and a consensus price target of $9.25.

Portman Ridge Finance Price Performance

The firm has a fifty day moving average price of $6.65 and a two-hundred day moving average price of $7.96. The stock has a market capitalization of $68.71 million, a P/E ratio of 3.40 and a beta of 0.55. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.45 and a current ratio of 1.45.

Portman Ridge Finance Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 30th. Investors of record on Monday, March 15th will be given a dividend of $0.09 per share. This represents a $1.08 dividend on an annualized basis and a yield of 19.5%. The ex-dividend date is Monday, March 15th. Portman Ridge Finance’s dividend payout ratio is -196.36%.

About Portman Ridge Finance

Portman Ridge Finance Corporation is a business development company that provides financing to privately owned, primarily middle-market companies in the United States. The company invests across the capital structure, with a focus on senior secured loans, subordinated debt and, in some cases, equity securities. Through its investment portfolio, Portman Ridge seeks to support companies with acquisition financing, recapitalizations, refinancing and general corporate funding. Its investments may include first-lien and second-lien loans, unitranche facilities and other structured credit instruments.