International Assets Investment Management LLC Grows Position in Portman Ridge Finance Co. (NASDAQ:PTMN)

International Assets Investment Management LLC increased its stake in shares of Portman Ridge Finance Co. (NASDAQ:PTMN - Free Report) by 1,340.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,166 shares of the company's stock after acquiring an additional 40,169 shares during the quarter. International Assets Investment Management LLC owned approximately 0.46% of Portman Ridge Finance worth $801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PTMN. Redhawk Wealth Advisors Inc. bought a new position in Portman Ridge Finance during the 2nd quarter worth approximately $787,000. Founders Financial Alliance LLC lifted its holdings in Portman Ridge Finance by 74.2% in the 2nd 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. Ritholtz Wealth Management purchased a new stake in Portman Ridge Finance in the 2nd quarter worth approximately $272,000. Sequoia Financial Advisors LLC purchased a new stake in Portman Ridge Finance in the 3rd quarter worth approximately $251,000. Finally, Confluence Investment Management LLC lifted its holdings in Portman Ridge Finance by 1.8% in the 2nd quarter. Confluence Investment Management LLC now owns 59,679 shares of the company's stock worth $1,171,000 after buying an additional 1,075 shares during the period. 30.14% of the stock is currently owned by institutional investors.

Portman Ridge Finance Trading Down 0.4 %

NASDAQ PTMN traded down $0.07 on Wednesday, hitting $18.54. The company's stock had a trading volume of 65,699 shares, compared to its average volume of 29,668. Portman Ridge Finance Co. has a 52-week low of $16.27 and a 52-week high of $20.84. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 1.44. The company's 50-day simple moving average is $18.38 and its 200 day simple moving average is $19.07. The firm has a market cap of $171.31 million, a P/E ratio of 14.15 and a beta of 1.02.

Portman Ridge Finance (NASDAQ:PTMN - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. Portman Ridge Finance had a return on equity of 14.86% and a net margin of 18.14%. The business had revenue of $16.34 million during the quarter, compared to analysts' expectations of $16.68 million. During the same quarter last year, the business posted $0.83 EPS. Research analysts predict that Portman Ridge Finance Co. will post 2.74 EPS for the current fiscal year.

Portman Ridge Finance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 22nd were paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 14.89%. The ex-dividend date of this dividend was Thursday, August 22nd. Portman Ridge Finance's payout ratio is presently 210.69%.

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.