Portman Ridge Finance Co. (NASDAQ:PTMN - Get Free Report) was the recipient of a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 27,700 shares, a decrease of 33.6% from the September 15th total of 41,700 shares. Approximately 0.3% of the company's shares are sold short. Based on an average trading volume of 43,300 shares, the days-to-cover ratio is currently 0.6 days.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in PTMN. Redhawk Wealth Advisors Inc. increased its stake in shares of Portman Ridge Finance by 7.6% in 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 in the last quarter. Founders Financial Alliance LLC raised its holdings in shares of Portman Ridge Finance by 74.2% during the second quarter. Founders Financial Alliance LLC now owns 49,954 shares of the company's stock valued at $980,000 after purchasing an additional 21,273 shares during the period. Ritholtz Wealth Management bought a new position in shares of Portman Ridge Finance during the 2nd quarter worth about $272,000. International Assets Investment Management LLC acquired a new stake in shares of Portman Ridge Finance in the 2nd quarter valued at about $59,000. Finally, Confluence Investment Management LLC increased its position 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 valued at $1,171,000 after buying an additional 1,075 shares in the last quarter. 30.14% of the stock is owned by institutional investors.
Portman Ridge Finance Trading Up 0.2 %
NASDAQ:PTMN traded up $0.04 during trading hours on Friday, hitting $18.25. 33,854 shares of the company were exchanged, compared to its average volume of 40,653. The stock has a market capitalization of $168.63 million, a price-to-earnings ratio of 13.93 and a beta of 1.02. Portman Ridge Finance has a one year low of $16.27 and a one year high of $20.84. The company has a fifty day simple moving average of $18.56 and a 200 day simple moving average of $19.15. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 1.44.
Portman Ridge Finance (NASDAQ:PTMN - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $16.34 million during the quarter, compared to the consensus estimate of $16.68 million. During the same period last year, the company earned $0.83 earnings per share. Sell-side analysts expect that Portman Ridge Finance will post 2.74 EPS for the current fiscal year.
Portman Ridge Finance Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 22nd were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $2.76 dividend on an annualized basis and a yield of 15.12%. Portman Ridge Finance's dividend payout ratio (DPR) is currently 210.69%.
Portman Ridge Finance Company Profile
(
Get 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.
Further Reading
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