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

Portman Ridge Finance Co. (NASDAQ:PTMN) was the target of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 34,500 shares, a decrease of 31.0% from the November 15th total of 50,000 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily volume of 51,400 shares, the short-interest ratio is presently 0.7 days.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods decreased their price target on shares of Portman Ridge Finance from $19.00 to $18.00 and set a “market perform” rating for the company in a research report on Thursday, November 14th.

Portman Ridge Finance Trading Down 0.8 %

NASDAQ PTMN traded down $0.13 on Friday, hitting $16.73. The company’s stock had a trading volume of 15,719 shares, compared to its average volume of 44,070. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 1.41. Portman Ridge Finance has a 1-year low of $16.50 and a 1-year high of $20.84. The company’s 50-day moving average is $17.74 and its 200 day moving average is $18.61. The firm has a market cap of $154.13 million, a PE ratio of 45.22 and a beta of 0.99.

Portman Ridge Finance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 16.50%. The ex-dividend date of this dividend was Tuesday, November 19th. Portman Ridge Finance’s dividend payout ratio (DPR) is currently 745.95%.

Hedge Funds Weigh In On Portman Ridge Finance

Several institutional investors and hedge funds have recently added to or reduced their stakes in PTMN. International Assets Investment Management LLC acquired a new stake in shares of Portman Ridge Finance during the second quarter worth $59,000. Ritholtz Wealth Management acquired a new stake in shares of Portman Ridge Finance during the second quarter worth $272,000. Founders Financial Alliance LLC increased its position in shares of Portman Ridge Finance by 74.2% during the second quarter. Founders Financial Alliance LLC now owns 49,954 shares of the company’s stock worth $980,000 after buying an additional 21,273 shares during the period. Redhawk Wealth Advisors Inc. increased its position in shares of Portman Ridge Finance by 7.6% during the third quarter. Redhawk Wealth Advisors Inc. now owns 43,140 shares of the company’s stock worth $800,000 after buying an additional 3,038 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Portman Ridge Finance during the third quarter worth $251,000. 30.14% of the stock is currently owned by institutional investors and hedge funds.

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.