Raymond James Financial Inc. bought a new stake in Portman Ridge Finance Co. (NASDAQ:PTMN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 104,167 shares of the company's stock, valued at approximately $1,702,000. Raymond James Financial Inc. owned about 1.13% of Portman Ridge Finance at the end of the most recent reporting period.
Portman Ridge Finance Trading Down 7.0 %
Shares of NASDAQ PTMN traded down $0.96 during mid-day trading on Friday, reaching $12.69. 43,068 shares of the company's stock were exchanged, compared to its average volume of 44,055. The company's 50-day moving average is $16.40 and its 200-day moving average is $17.07. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.14 and a current ratio of 3.14. The firm has a market capitalization of $116.70 million, a price-to-earnings ratio of 34.28 and a beta of 0.64. Portman Ridge Finance Co. has a 52-week low of $12.67 and a 52-week high of $20.84.
Portman Ridge Finance (NASDAQ:PTMN - Get Free Report) last announced its earnings results on Thursday, March 13th. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.08). The company had revenue of $14.40 million for the quarter, compared to analysts' expectations of $15.14 million. Portman Ridge Finance had a return on equity of 14.68% and a net margin of 5.47%. Analysts expect that Portman Ridge Finance Co. will post 2.64 EPS for the current fiscal year.
Portman Ridge Finance Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 24th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 14.82%. The ex-dividend date of this dividend was Monday, March 24th. Portman Ridge Finance's dividend payout ratio (DPR) is -293.75%.
Analyst Upgrades and Downgrades
Separately, Keefe, Bruyette & Woods decreased their price objective on Portman Ridge Finance from $18.00 to $16.00 and set a "market perform" rating on the stock in a report on Wednesday, March 19th.
Check Out Our Latest Stock Analysis on PTMN
About Portman Ridge Finance
(
Free Report)
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.
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