Portman Ridge Finance (NASDAQ:BCIC) Posts Quarterly Earnings Results, Beats Estimates By $0.23 EPS

Portman Ridge Finance (NASDAQ:BCIC) posted its quarterly earnings data on Thursday. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.23, Zacks reports. Portman Ridge Finance had a return on equity of 12.91% and a net margin of 18.79%.

Portman Ridge Finance Stock Down 0.5%

Portman Ridge Finance stock traded down $0.04 on Thursday, hitting $7.86. The company’s stock had a trading volume of 90,790 shares, compared to its average volume of 99,021. The stock has a market capitalization of $97.31 million, a price-to-earnings ratio of 13.79 and a beta of 0.51. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 1.47. The firm has a fifty day simple moving average of $8.42. Portman Ridge Finance has a one year low of $7.11 and a one year high of $13.50.

Portman Ridge Finance Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a $0.09 dividend. This represents a c) annualized dividend and a yield of 13.7%. The ex-dividend date of this dividend is Monday, June 15th. Portman Ridge Finance’s payout ratio is 189.47%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BCIC shares. Keefe, Bruyette & Woods cut their price objective 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. Weiss Ratings cut Portman Ridge Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, February 23rd. Zacks Research cut Portman Ridge Finance from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 11th. Wall Street Zen upgraded Portman Ridge Finance from a “sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Finally, LADENBURG THALM/SH SH downgraded Portman Ridge Finance from a “buy” rating to a “neutral” rating in a research report on Monday, March 9th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $9.00.

Insider Transactions at Portman Ridge Finance

In other Portman Ridge Finance news, Director Dean C. Kehler sold 27,378 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $7.60, for a total value of $208,072.80. Following the sale, the director owned 57,749 shares of the company’s stock, valued at $438,892.40. The trade was a 32.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 80,021 shares of company stock valued at $652,828. Insiders own 2.11% of the company’s stock.

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.