Portman Ridge Finance (NASDAQ:PTMN) announced its earnings results on Thursday. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01), Fidelity Earnings reports. The company had revenue of $7.08 million for the quarter. Portman Ridge Finance had a negative net margin of 86.64% and a positive return on equity of 2.41%.
NASDAQ:PTMN traded up $0.05 during trading hours on Friday, reaching $2.25. 110,400 shares of the company traded hands, compared to its average volume of 135,511. The firm’s 50-day moving average is $2.24 and its 200-day moving average is $2.45. The stock has a market cap of $81.81 million, a P/E ratio of 8.33 and a beta of 0.72. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.36 and a quick ratio of 0.36. Portman Ridge Finance has a 1-year low of $2.10 and a 1-year high of $3.80.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 10.67%. The ex-dividend date is Thursday, November 14th. Portman Ridge Finance’s dividend payout ratio (DPR) is presently 88.89%.
In related news, CEO Edward J. Goldthorpe bought 11,500 shares of the stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price of $2.29 per share, for a total transaction of $26,335.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have acquired 32,639 shares of company stock worth $73,509. 6.30% of the stock is owned by insiders.
A number of equities research analysts have commented on PTMN shares. Zacks Investment Research cut Portman Ridge Finance from a “hold” rating to a “sell” rating in a report on Tuesday, October 8th. TheStreet cut Portman Ridge Finance from a “c-” rating to a “d+” rating in a report on Wednesday, July 17th. ValuEngine upgraded Portman Ridge Finance from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, LADENBURG THALM/SH SH upgraded Portman Ridge Finance from a “neutral” rating to a “buy” rating in a report on Friday.
About Portman Ridge Finance
Portman Ridge Finance Corp. is a private equity fund and non-diversified closed-end investment company that invests in middle market companies generating consistent cash flows located in North America. It targets companies operating across a broad range of sectors such as aerospace and defense, automotive, beverage, food and tobacco, broadcasting and entertainment, buildings and real estate, personal and cargo transport, chemicals, plastics and rubber, containers, packaging and glass, diversified or conglomerate service, ecological, electronics, finance, and healthcare.
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