Insider Selling: Portman Ridge Finance (NASDAQ:BCIC) Director Sells $208,072.80 in Stock

Portman Ridge Finance Corp (NASDAQ:BCIC) Director Dean Kehler sold 27,378 shares of Portman Ridge Finance stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $7.60, for a total transaction of $208,072.80. Following the completion of the transaction, the director directly owned 57,749 shares in the company, valued at approximately $438,892.40. The trade was a 32.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Portman Ridge Finance Trading Down 1.7%

Portman Ridge Finance stock opened at $7.34 on Friday. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 1.47. Portman Ridge Finance Corp has a twelve month low of $7.15 and a twelve month high of $15.69. The company has a market capitalization of $90.94 million, a PE ratio of 12.88 and a beta of 0.39.

Portman Ridge Finance Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.09 dividend. This represents a c) annualized dividend and a yield of 14.7%. The ex-dividend date of this dividend is Monday, June 15th. Portman Ridge Finance’s payout ratio is currently 224.56%.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

BCIC has been the subject of a number of research reports. Weiss Ratings cut Portman Ridge Finance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 23rd. Wall Street Zen raised Portman Ridge Finance from a “sell” rating to a “hold” rating in a research report on Wednesday. Keefe, Bruyette & Woods decreased their price objective on Portman Ridge Finance from $14.00 to $9.00 and set a “market perform” rating for the company in a report on Tuesday, March 10th. LADENBURG THALM/SH SH lowered Portman Ridge Finance from a “buy” rating to a “neutral” rating in a research report on Monday, March 9th. Finally, Zacks Research cut Portman Ridge Finance from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 11th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $9.00.

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.