Portman Ridge Finance (NASDAQ:BCIC) Upgraded to “Hold” at Zacks Research

Portman Ridge Finance (NASDAQ:BCIC) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

BCIC has been the topic of several other research reports. Keefe, Bruyette & Woods lowered their price objective on Portman Ridge Finance from $14.00 to $9.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 10th. Wall Street Zen upgraded Portman Ridge Finance from a “sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Weiss Ratings lowered Portman Ridge Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, February 23rd. Finally, LADENBURG THALM/SH SH lowered Portman Ridge Finance from a “buy” rating to a “neutral” rating in a research report on Monday, March 9th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $9.00.

Portman Ridge Finance Trading Down 1.1%

Portman Ridge Finance stock opened at $7.87 on Wednesday. The company has a current ratio of 4.43, a quick ratio of 2.52 and a debt-to-equity ratio of 1.74. Portman Ridge Finance has a 12 month low of $7.11 and a 12 month high of $13.50. The stock has a 50 day moving average of $8.08. The stock has a market cap of $97.43 million, a price-to-earnings ratio of -32.79 and a beta of 0.51.

Insider Activity

In other news, Director Dean C. Kehler sold 27,378 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $7.60, for a total transaction of $208,072.80. Following the transaction, the director owned 57,749 shares in the company, valued at $438,892.40. This trade represents a 32.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 80,021 shares of company stock worth $652,828. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Portman Ridge Finance stock. Arlington Trust Co LLC bought a new stake in shares of Portman Ridge Finance Corp (NASDAQ:BCIC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,468 shares of the company’s stock, valued at approximately $29,000. 30.14% of the stock is currently owned by hedge funds and other institutional investors.

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.