Portman Ridge Finance (NASDAQ:BCIC) Price Target Lowered to $7.50 at Keefe, Bruyette & Woods

Portman Ridge Finance (NASDAQ:BCIC) had its price target reduced by analysts at Keefe, Bruyette & Woods from $9.00 to $7.50 in a research note issued on Monday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 0.79% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Zacks Research raised shares of Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Portman Ridge Finance in a report on Friday, May 22nd. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Portman Ridge Finance has a consensus rating of “Reduce” and an average target price of $7.50.

Portman Ridge Finance Trading Up 0.7%

Shares of Portman Ridge Finance stock opened at $7.44 on Monday. The company has a market cap of $92.12 million, a price-to-earnings ratio of -13.57 and a beta of 0.50. The company has a quick ratio of 4.43, a current ratio of 4.43 and a debt-to-equity ratio of 1.74. The firm’s 50 day moving average is $7.30. Portman Ridge Finance has a 1 year low of $6.70 and a 1 year high of $13.50.

Insiders Place Their Bets

In other news, Director Dean C. Kehler sold 15,000 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $7.64, for a total transaction of $114,600.00. Following the completion of the sale, the director directly owned 5,649 shares in the company, valued at $43,158.36. This represents a 72.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Edward J. Goldthorpe purchased 13,738 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were acquired at an average price of $7.16 per share, with a total value of $98,364.08. Following the completion of the acquisition, the chief executive officer owned 99,878 shares in the company, valued at approximately $715,126.48. This trade represents a 15.95% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Portman Ridge Finance

A hedge fund recently bought a new position in Portman Ridge Finance stock. Arlington Trust Co LLC purchased a new stake in Portman Ridge Finance Corp (NASDAQ:BCIC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,468 shares of the company’s stock, valued at approximately $29,000. 30.14% of the stock is owned by institutional investors.

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.