Portman Ridge Finance (NASDAQ:PTMN) Stock Price Up 0.2% – Time to Buy?

Portman Ridge Finance Corporation (NASDAQ:PTMN) shares traded up 0.2% during trading on Monday . The stock traded as high as $12.70 and last traded at $12.55. 71,850 shares were traded during trading, an increase of 36% from the average session volume of 52,829 shares. The stock had previously closed at $12.52.

Portman Ridge Finance Price Performance

The company has a quick ratio of 3.11, a current ratio of 3.11 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of $165.56 million, a price-to-earnings ratio of -13.49 and a beta of 0.60. The company has a fifty day moving average price of $12.40 and a two-hundred day moving average price of $12.21.

Institutional Investors Weigh In On Portman Ridge Finance

Institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada increased its position in Portman Ridge Finance by 69.9% in the 1st quarter. Royal Bank of Canada now owns 16,354 shares of the company’s stock valued at $235,000 after acquiring an additional 6,730 shares during the period. Winnow Wealth LLC acquired a new stake in Portman Ridge Finance during the 2nd quarter worth approximately $201,000. Virtus Investment Advisers LLC lifted its position in Portman Ridge Finance by 15.3% during the 2nd quarter. Virtus Investment Advisers LLC now owns 43,619 shares of the company’s stock worth $546,000 after acquiring an additional 5,775 shares during the period. Marshall Wace LLP purchased a new position in shares of Portman Ridge Finance in the 2nd quarter valued at approximately $822,000. Finally, Marex Group plc acquired a new position in shares of Portman Ridge Finance in the second quarter valued at approximately $1,029,000. 30.14% of the stock is owned by hedge funds and other institutional investors.

Portman Ridge Finance Company Profile

Portman Ridge Finance (NASDAQ: PTMN) is a publicly traded, closed-end management investment company that has elected to be regulated as a Business Development Company (BDC) under the Investment Company Act of 1940. Since its formation in 2015, the firm has focused on providing customized financing solutions to U.S. middle-market companies, including senior secured loans, unitranche instruments, mezzanine debt and select equity co‐investments. Its flexible approach allows Portman Ridge to structure transactions that address a range of sponsor-backed and privately negotiated financing needs.

The company’s portfolio spans a variety of industry sectors such as healthcare, business services, consumer goods and industrials.