Portman Ridge Finance Co. (NASDAQ:PTMN) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lowered its stake in Portman Ridge Finance Co. (NASDAQ:PTMN - Free Report) by 68.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,316 shares of the company's stock after selling 33,426 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.17% of Portman Ridge Finance worth $284,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC lifted its stake in shares of Portman Ridge Finance by 1,340.3% in the 3rd quarter. International Assets Investment Management LLC now owns 43,166 shares of the company's stock valued at $801,000 after purchasing an additional 40,169 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of Portman Ridge Finance in the third quarter worth about $251,000. Founders Financial Alliance LLC boosted its stake in shares of Portman Ridge Finance by 74.2% during the 2nd quarter. Founders Financial Alliance LLC now owns 49,954 shares of the company's stock worth $980,000 after acquiring an additional 21,273 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its position in shares of Portman Ridge Finance by 7.6% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 43,140 shares of the company's stock valued at $800,000 after acquiring an additional 3,038 shares during the period. Finally, Ritholtz Wealth Management purchased a new position in shares of Portman Ridge Finance in the 2nd quarter valued at about $272,000. 30.14% of the stock is currently owned by hedge funds and other institutional investors.

Portman Ridge Finance Price Performance

Portman Ridge Finance stock traded down $0.32 during midday trading on Monday, reaching $16.80. The company had a trading volume of 69,172 shares, compared to its average volume of 43,449. Portman Ridge Finance Co. has a 12-month low of $16.63 and a 12-month high of $20.84. The firm's fifty day simple moving average is $18.06 and its 200-day simple moving average is $18.81. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.14 and a quick ratio of 3.14. The company has a market capitalization of $154.78 million, a P/E ratio of 46.27 and a beta of 1.02.

Portman Ridge Finance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 16.43%. The ex-dividend date was Tuesday, November 19th. Portman Ridge Finance's dividend payout ratio is presently 745.95%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods dropped their price objective on Portman Ridge Finance from $19.00 to $18.00 and set a "market perform" rating on the stock in a report on Thursday, November 14th.

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.