Portman Ridge Finance Co. (NASDAQ:PTMN) Sees Large Growth in Short Interest

Portman Ridge Finance Co. (NASDAQ:PTMN - Get Free Report) was the target of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 52,200 shares, an increase of 22.8% from the January 15th total of 42,500 shares. Currently, 0.6% of the company's shares are sold short. Based on an average daily trading volume, of 55,200 shares, the short-interest ratio is presently 0.9 days.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods dropped their price target on shares of Portman Ridge Finance from $19.00 to $18.00 and set a "market perform" rating for the company in a research note on Thursday, November 14th.

Portman Ridge Finance Trading Down 0.1 %

Shares of PTMN traded down $0.02 on Thursday, reaching $17.38. 51,352 shares of the company's stock were exchanged, compared to its average volume of 33,644. 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 stock has a market capitalization of $160.07 million, a P/E ratio of 46.97 and a beta of 1.01. The business has a 50 day moving average price of $16.67 and a two-hundred day moving average price of $17.64. Portman Ridge Finance has a 12 month low of $15.94 and a 12 month high of $20.84.

Institutional Investors Weigh In On Portman Ridge Finance

A number of institutional investors and hedge funds have recently modified their holdings of PTMN. Confluence Investment Management LLC increased its stake in Portman Ridge Finance by 1.8% in the third quarter. Confluence Investment Management LLC now owns 60,751 shares of the company's stock valued at $1,127,000 after purchasing an additional 1,072 shares in the last quarter. Founders Financial Alliance LLC increased its stake 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 purchasing an additional 3,671 shares in the last quarter. Virtus ETF Advisers LLC increased its stake in Portman Ridge Finance by 25.3% in the fourth quarter. Virtus ETF Advisers LLC now owns 29,852 shares of the company's stock valued at $488,000 after purchasing an additional 6,031 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in Portman Ridge Finance in the third quarter valued at approximately $251,000. Finally, Two Sigma Investments LP increased its stake in Portman Ridge Finance by 25.3% in the fourth quarter. Two Sigma Investments LP now owns 106,165 shares of the company's stock valued at $1,735,000 after purchasing an additional 21,425 shares in the last quarter. 30.14% of the stock is owned by institutional investors.

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.