Keefe, Bruyette & Woods Issues Pessimistic Forecast for Portman Ridge Finance (NASDAQ:PTMN) Stock Price

Portman Ridge Finance (NASDAQ:PTMN - Get Free Report) had its price objective cut by analysts at Keefe, Bruyette & Woods from $16.00 to $14.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 18.44% from the stock's current price.

Portman Ridge Finance Stock Down 1.3 %

Shares of PTMN stock traded down $0.16 during trading hours on Tuesday, reaching $11.82. 43,062 shares of the company's stock were exchanged, compared to its average volume of 44,732. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 1.41. The company has a market cap of $108.72 million, a price-to-earnings ratio of 31.95 and a beta of 0.64. Portman Ridge Finance has a fifty-two week low of $11.61 and a fifty-two week high of $20.84. The stock's 50 day moving average is $15.68 and its 200-day moving average is $16.73.

Portman Ridge Finance (NASDAQ:PTMN - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.60 EPS for the quarter, missing analysts' consensus estimates of $0.68 by ($0.08). Portman Ridge Finance had a net margin of 5.47% and a return on equity of 14.68%. The business had revenue of $14.40 million during the quarter, compared to analysts' expectations of $15.14 million. Analysts predict that Portman Ridge Finance will post 2.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Portman Ridge Finance

Hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in Portman Ridge Finance during the 4th quarter valued at about $1,702,000. Founders Financial Alliance LLC boosted its position in Portman Ridge Finance by 6.3% in the fourth quarter. Founders Financial Alliance LLC now owns 62,217 shares of the company's stock valued at $1,017,000 after buying an additional 3,671 shares during the last quarter. Trexquant Investment LP raised its position in Portman Ridge Finance by 50.3% during the 4th quarter. Trexquant Investment LP now owns 65,351 shares of the company's stock worth $1,068,000 after buying an additional 21,859 shares during the last quarter. Virtus ETF Advisers LLC lifted its stake in Portman Ridge Finance by 25.3% during the 4th quarter. Virtus ETF Advisers LLC now owns 29,852 shares of the company's stock valued at $488,000 after acquiring an additional 6,031 shares during the period. Finally, Bulldog Investors LLP boosted its holdings in shares of Portman Ridge Finance by 155.0% in the 4th quarter. Bulldog Investors LLP now owns 216,546 shares of the company's stock valued at $3,539,000 after acquiring an additional 131,630 shares during the last quarter. 30.14% of the stock is owned by institutional investors and hedge funds.

About Portman Ridge Finance

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.