Keefe, Bruyette & Woods Cuts Portman Ridge Finance (NASDAQ:PTMN) Price Target to $18.00

Portman Ridge Finance (NASDAQ:PTMN - Free Report) had its price target cut by Keefe, Bruyette & Woods from $19.00 to $18.00 in a research note published on Thursday,Benzinga reports. They currently have a market perform rating on the stock.

Portman Ridge Finance Trading Down 0.8 %

Shares of PTMN stock traded down $0.15 during mid-day trading on Thursday, reaching $17.75. The company's stock had a trading volume of 71,529 shares, compared to its average volume of 40,790. The company has a quick ratio of 4.40, a current ratio of 3.14 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $163.48 million, a PE ratio of 48.27 and a beta of 1.02. The company's 50 day simple moving average is $18.33 and its 200-day simple moving average is $19.02. Portman Ridge Finance has a 12-month low of $16.27 and a 12-month high of $20.84.

Portman Ridge Finance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 15.55%. The ex-dividend date of this dividend is Tuesday, November 19th. Portman Ridge Finance's payout ratio is 745.97%.

Institutional Trading of Portman Ridge Finance

Several large investors have recently bought and sold shares of PTMN. Confluence Investment Management LLC boosted its position in Portman Ridge Finance by 1.8% in the 3rd quarter. Confluence Investment Management LLC now owns 60,751 shares of the company's stock valued at $1,127,000 after buying an additional 1,072 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Portman Ridge Finance by 1,340.3% during the third quarter. International Assets Investment Management LLC now owns 43,166 shares of the company's stock worth $801,000 after purchasing an additional 40,169 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Portman Ridge Finance in the 3rd quarter valued at about $251,000. Redhawk Wealth Advisors Inc. boosted its stake in Portman Ridge Finance by 7.6% in the third 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, Founders Financial Alliance LLC lifted its holdings in shares of 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 purchasing an additional 21,273 shares during the last quarter. Institutional investors and hedge funds own 30.14% of the company's stock.

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.