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 firm 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 quarter.
Portman Ridge Finance Stock Performance
Shares of NASDAQ:PTMN traded down $0.65 during midday trading on Friday, hitting $13.00. The stock had a trading volume of 82,401 shares, compared to its average volume of 43,950. The company has a market capitalization of $119.57 million, a PE ratio of 35.14 and a beta of 0.64. Portman Ridge Finance Co. has a 1 year low of $12.60 and a 1 year high of $20.84. The stock has a 50 day moving average price of $16.33 and a two-hundred day moving average price of $17.03. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 1.41.
Portman Ridge Finance (NASDAQ:PTMN - Get Free Report) last issued its earnings results on Thursday, March 13th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.68 by ($0.08). Portman Ridge Finance had a return on equity of 14.68% and a net margin of 5.47%. The business had revenue of $14.40 million for the quarter, compared to analysts' expectations of $15.14 million. As a group, equities analysts predict that Portman Ridge Finance Co. will post 2.64 earnings per share for the current fiscal year.
Portman Ridge Finance Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 24th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, March 24th. This represents a $1.88 annualized dividend and a dividend yield of 14.46%. Portman Ridge Finance's payout ratio is currently -293.75%.
Wall Street Analyst Weigh In
Separately, Keefe, Bruyette & Woods decreased their price target on Portman Ridge Finance from $18.00 to $16.00 and set a "market perform" rating for the company in a report on Wednesday, March 19th.
Read Our Latest Research Report on PTMN
Portman Ridge Finance Profile
(
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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