Portman Ridge Finance Corp (NASDAQ:BCIC) Given Average Rating of “Reduce” by Brokerages

Portman Ridge Finance Corp (NASDAQ:BCIC) has been given a consensus rating of “Reduce” by the five research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $9.25.

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Portman Ridge Finance from $9.00 to $7.50 and set a “market perform” rating on the stock in a research report on Monday. Oppenheimer cut their target price on Portman Ridge Finance from $12.00 to $11.00 and set a “market perform” rating for the company in a research note on Monday. Weiss Ratings restated a “sell (d+)” rating on shares of Portman Ridge Finance in a research report on Friday, May 22nd. Finally, Zacks Research raised Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th.

Insider Activity

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Portman Ridge Finance stock. Arlington Trust Co LLC acquired a new stake in Portman Ridge Finance Corp (NASDAQ:BCIC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 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 Stock Up 1.6%

NASDAQ:BCIC traded up $0.12 on Monday, hitting $7.62. The stock had a trading volume of 77,639 shares, compared to its average volume of 84,853. The stock has a fifty day moving average price of $7.30. Portman Ridge Finance has a 1-year low of $6.70 and a 1-year high of $13.50. The company has a debt-to-equity ratio of 1.74, a quick ratio of 4.43 and a current ratio of 4.43. The firm has a market capitalization of $94.34 million, a PE ratio of -13.85 and a beta of 0.50.

Portman Ridge Finance Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Tuesday, December 15th will be given a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a c) dividend on an annualized basis and a yield of 14.2%. Portman Ridge Finance’s dividend payout ratio is presently -196.36%.

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.