Portman Ridge Finance (NASDAQ:PTMN) Trading Up 1.2% – Here’s Why

Portman Ridge Finance Corporation (NASDAQ:PTMN)’s stock price shot up 1.2% on Thursday . The company traded as high as $11.95 and last traded at $11.94. 61,569 shares changed hands during trading, an increase of 17% from the average session volume of 52,829 shares. The stock had previously closed at $11.80.

Portman Ridge Finance Stock Down 2.7%

The stock’s fifty day moving average price is $12.12 and its 200-day moving average price is $12.16. The company has a quick ratio of 3.11, a current ratio of 3.11 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $151.05 million, a price-to-earnings ratio of -12.31 and a beta of 0.60.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Arlington Trust Co LLC grew its stake in shares of Portman Ridge Finance by 100.0% in the third quarter. Arlington Trust Co LLC now owns 3,000 shares of the company’s stock valued at $35,000 after acquiring an additional 1,500 shares in the last quarter. Virtus Investment Advisers LLC grew its position in shares of Portman Ridge Finance by 15.3% during the 2nd quarter. Virtus Investment Advisers LLC now owns 43,619 shares of the company’s stock worth $546,000 after purchasing an additional 5,775 shares in the last quarter. Royal Bank of Canada grew its position in shares of Portman Ridge Finance by 69.9% during the 1st quarter. Royal Bank of Canada now owns 16,354 shares of the company’s stock worth $235,000 after purchasing an additional 6,730 shares in the last quarter. Perigon Wealth Management LLC bought a new position in shares of Portman Ridge Finance during the third quarter worth approximately $121,000. Finally, Founders Financial Alliance LLC raised its position in shares of Portman Ridge Finance by 19.2% in the third quarter. Founders Financial Alliance LLC now owns 84,055 shares of the company’s stock valued at $969,000 after buying an additional 13,551 shares in the last quarter. Institutional investors own 30.14% of the company’s stock.

Portman Ridge Finance Company Profile

Portman Ridge Finance (NASDAQ: PTMN) is a publicly traded, closed-end management investment company that has elected to be regulated as a Business Development Company (BDC) under the Investment Company Act of 1940. Since its formation in 2015, the firm has focused on providing customized financing solutions to U.S. middle-market companies, including senior secured loans, unitranche instruments, mezzanine debt and select equity co‐investments. Its flexible approach allows Portman Ridge to structure transactions that address a range of sponsor-backed and privately negotiated financing needs.

The company’s portfolio spans a variety of industry sectors such as healthcare, business services, consumer goods and industrials.