Portman Ridge Finance Co. (NASDAQ:PTMN) Short Interest Update

Portman Ridge Finance Co. (NASDAQ:PTMN) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 32,500 shares, an increase of 17.3% from the September 30th total of 27,700 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average daily trading volume, of 43,900 shares, the days-to-cover ratio is currently 0.7 days.

Hedge Funds Weigh In On Portman Ridge Finance

Large investors have recently made changes to their positions in the business. International Assets Investment Management LLC lifted its holdings in shares of Portman Ridge Finance by 1,340.3% during the third quarter. International Assets Investment Management LLC now owns 43,166 shares of the company’s stock worth $801,000 after buying an additional 40,169 shares during the last quarter. Redhawk Wealth Advisors Inc. bought a new stake in Portman Ridge Finance in the 2nd quarter valued at $787,000. Founders Financial Alliance LLC grew its position in Portman Ridge Finance by 74.2% in the 2nd quarter. Founders Financial Alliance LLC now owns 49,954 shares of the company’s stock worth $980,000 after purchasing an additional 21,273 shares during the last quarter. Ritholtz Wealth Management bought a new position in shares of Portman Ridge Finance during the 2nd quarter worth about $272,000. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Portman Ridge Finance during the 3rd quarter worth about $251,000. Institutional investors and hedge funds own 30.14% of the company’s stock.

Portman Ridge Finance Stock Down 0.3 %

Shares of PTMN traded down $0.06 during mid-day trading on Wednesday, reaching $18.48. The company’s stock had a trading volume of 24,160 shares, compared to its average volume of 39,926. Portman Ridge Finance has a 1 year low of $16.27 and a 1 year high of $20.84. The business has a fifty day moving average of $18.41 and a 200 day moving average of $19.09. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 1.44. The company has a market cap of $170.83 million, a price-to-earnings ratio of 14.15 and a beta of 1.02.

Portman Ridge Finance (NASDAQ:PTMN) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Portman Ridge Finance had a net margin of 18.14% and a return on equity of 14.86%. The business had revenue of $16.34 million during the quarter, compared to analysts’ expectations of $16.68 million. During the same period in the previous year, the company earned $0.83 earnings per share. As a group, analysts forecast that Portman Ridge Finance will post 2.74 earnings per share for the current fiscal year.

Portman Ridge Finance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 22nd were given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 14.94%. The ex-dividend date of this dividend was Thursday, August 22nd. Portman Ridge Finance’s dividend payout ratio is currently 210.69%.

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, mezzanine, buyout in middle market companies. It also makes acquisitions in businesses complementary to the firm's business.