Portman Ridge Finance (NASDAQ:BCIC) Stock Moved Down to “Strong Sell” by Zacks Research

Zacks Research cut shares of Portman Ridge Finance (NASDAQ:BCIC) from a hold rating to a strong sell rating in a research report released on Monday morning,Zacks reports.

Several other equities analysts have also weighed in on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Portman Ridge Finance in a research note on Wednesday, August 19th. Keefe, Bruyette & Woods cut 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 report on Monday, August 10th. Finally, Oppenheimer reduced their price target on shares of Portman Ridge Finance from $12.00 to $11.00 and set a “market perform” rating on the stock in a research report on Monday, August 10th. Three investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Portman Ridge Finance currently has an average rating of “Reduce” and an average target price of $9.25.

Portman Ridge Finance Trading Up 0.7%

Shares of BCIC opened at $6.92 on Monday. Portman Ridge Finance has a twelve month low of $6.70 and a twelve month high of $13.50. The firm has a market capitalization of $85.67 million, a P/E ratio of -12.58 and a beta of 0.53. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.56. The stock’s fifty day simple moving average is $7.31 and its 200 day simple moving average is $7.45.

Portman Ridge Finance Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, December 30th. Investors of record on Tuesday, December 15th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $1.08 annualized dividend and a yield of 15.6%. Portman Ridge Finance’s payout ratio is -196.36%.

About Portman Ridge Finance

Portman Ridge Finance Corporation is a business development company that provides financing to middle-market businesses. The company primarily invests in privately held companies through senior secured loans, second-lien and subordinated debt, and, to a lesser extent, equity investments.

Its portfolio is generally focused on companies across a range of industries and may include first-lien, unitranche and other structured debt investments. Portman Ridge seeks to generate income from its investment portfolio while also pursuing potential long-term capital appreciation through equity and other investments.

The company is externally managed and has historically operated under the investment-management platform of Sierra Crest Investment Management LLC.