Keefe, Bruyette & Woods Issues Pessimistic Forecast for Portman Ridge Finance (NASDAQ:PTMN) Stock Price

Portman Ridge Finance (NASDAQ:PTMN) had its target price decreased by Keefe, Bruyette & Woods from $19.00 to $18.00 in a research note published on Thursday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Portman Ridge Finance Trading Up 0.8 %

NASDAQ PTMN opened at $17.90 on Thursday. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.14 and a quick ratio of 4.40. The stock has a market capitalization of $164.86 million, a P/E ratio of 48.38 and a beta of 1.02. The firm’s 50-day moving average is $18.30 and its two-hundred day moving average is $19.00. Portman Ridge Finance has a 12 month low of $16.27 and a 12 month high of $20.84.

Portman Ridge Finance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 19th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $2.76 annualized dividend and a yield of 15.42%. Portman Ridge Finance’s dividend payout ratio (DPR) is presently 745.97%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PTMN. International Assets Investment Management LLC acquired a new position in Portman Ridge Finance during the 2nd quarter worth about $59,000. Sequoia Financial Advisors LLC purchased a new stake in Portman Ridge Finance during the third quarter worth about $251,000. Ritholtz Wealth Management purchased a new stake in Portman Ridge Finance during the second quarter worth about $272,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Portman Ridge Finance during the second quarter worth about $787,000. Finally, Founders Financial Alliance LLC boosted its stake in shares of Portman Ridge Finance by 74.2% in the second quarter. Founders Financial Alliance LLC now owns 49,954 shares of the company’s stock valued at $980,000 after purchasing an additional 21,273 shares during the period. 30.14% of the stock is currently owned by hedge funds and other institutional investors.

Portman Ridge Finance Company Profile

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.