Portman Ridge Finance (NASDAQ:BCIC) Stock Price Up 1.8% – Here’s Why

Portman Ridge Finance Corp (NASDAQ:BCIC) shares were up 1.8% during trading on Wednesday . The company traded as high as $7.44 and last traded at $7.43. 36,001 shares were traded during trading, a decline of 38% from the average session volume of 58,331 shares. The stock had previously closed at $7.30.

Wall Street Analysts Forecast Growth

BCIC has been the topic of several research analyst reports. Wall Street Zen raised shares of Portman Ridge Finance from a “sell” rating to a “hold” rating in a report on Wednesday, March 18th. Weiss Ratings reissued a “sell (d+)” rating on shares of Portman Ridge Finance in a research note on Friday, May 22nd. Finally, Zacks Research upgraded Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 13th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Portman Ridge Finance has a consensus rating of “Reduce” and a consensus price target of $9.00.

Portman Ridge Finance Price Performance

The company has a market capitalization of $91.98 million, a price-to-earnings ratio of -30.96 and a beta of 0.49. The company has a debt-to-equity ratio of 1.74, a current ratio of 4.43 and a quick ratio of 4.43. The stock’s 50 day moving average is $7.47.

Portman Ridge Finance Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 14.5%. Portman Ridge Finance’s dividend payout ratio is presently -450.00%.

Insider Buying and Selling at Portman Ridge Finance

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

Institutional Investors Weigh In On Portman Ridge Finance

A hedge fund recently bought a new position in Portman Ridge Finance stock. Arlington Trust Co LLC acquired a new position in Portman Ridge Finance Corp (NASDAQ:BCIC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,468 shares of the company’s stock, valued at approximately $29,000. Institutional investors own 30.14% of the company’s stock.

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.