Portman Ridge Finance (NASDAQ:BCIC) Trading Up 1.3% – Here’s Why

Portman Ridge Finance Corp (NASDAQ:BCIC) shares were up 1.3% on Wednesday . The company traded as high as $7.62 and last traded at $7.61. Approximately 31,132 shares changed hands during trading, a decline of 56% from the average daily volume of 71,116 shares. The stock had previously closed at $7.51.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BCIC shares. LADENBURG THALM/SH SH cut Portman Ridge Finance from a “buy” rating to a “neutral” rating in a report on Monday, March 9th. Wall Street Zen raised Portman Ridge Finance from a “sell” rating to a “hold” rating in a report on Wednesday, March 18th. Zacks Research raised Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 13th. Keefe, Bruyette & Woods cut their price target on Portman Ridge Finance from $14.00 to $9.00 and set a “market perform” rating on the stock in a report on Tuesday, March 10th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Portman Ridge Finance in a report on Friday, May 22nd. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $9.00.

Portman Ridge Finance Price Performance

The stock has a market capitalization of $94.21 million, a PE ratio of -31.71 and a beta of 0.50. The business has a fifty day moving average of $7.75. The company has a current ratio of 4.43, a quick ratio of 4.43 and a debt-to-equity ratio of 1.74.

Portman Ridge Finance Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 14.2%. Portman Ridge Finance’s payout ratio is presently -450.00%.

Insider Buying and Selling

In related news, Director Dean C. Kehler sold 15,000 shares of the business’s stock in a transaction that occurred 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 sale, the director owned 5,649 shares of the company’s stock, valued at $43,158.36. The trade was a 72.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 68,467 shares of company stock worth $530,757 over the last quarter. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Portman Ridge Finance

A hedge fund recently bought a new stake in Portman Ridge Finance stock. Arlington Trust Co LLC bought a new position in shares of Portman Ridge Finance Corp (NASDAQ:BCIC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,468 shares of the company’s stock, valued at approximately $29,000. Institutional investors and hedge funds 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.