Portman Ridge Finance Co. (NASDAQ:PTMN) Short Interest Up 72.0% in February

Portman Ridge Finance Co. (NASDAQ:PTMN - Get Free Report) was the target of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 89,800 shares, a growth of 72.0% from the January 31st total of 52,200 shares. Currently, 1.0% of the company's stock are sold short. Based on an average trading volume of 46,800 shares, the days-to-cover ratio is currently 1.9 days.

Hedge Funds Weigh In On Portman Ridge Finance

Several large investors have recently bought and sold shares of PTMN. International Assets Investment Management LLC grew its holdings in shares of 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. Two Sigma Investments LP grew its holdings in shares of Portman Ridge Finance by 25.3% during the fourth quarter. Two Sigma Investments LP now owns 106,165 shares of the company's stock worth $1,735,000 after purchasing an additional 21,425 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of Portman Ridge Finance by 39.5% during the fourth quarter. Two Sigma Advisers LP now owns 178,200 shares of the company's stock worth $2,912,000 after purchasing an additional 50,500 shares during the last quarter. Bulldog Investors LLP grew its holdings in shares of Portman Ridge Finance by 155.0% during the fourth quarter. Bulldog Investors LLP now owns 216,546 shares of the company's stock worth $3,539,000 after purchasing an additional 131,630 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Portman Ridge Finance during the fourth quarter worth about $1,702,000. Hedge funds and other institutional investors own 30.14% of the company's stock.

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Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods cut their price objective on Portman Ridge Finance from $19.00 to $18.00 and set a "market perform" rating on the stock in a research report on Thursday, November 14th.

Portman Ridge Finance Stock Up 2.8 %

NASDAQ:PTMN traded up $0.46 during trading hours on Wednesday, hitting $17.06. The company's stock had a trading volume of 26,677 shares, compared to its average volume of 35,026. The stock has a market capitalization of $157.17 million, a P/E ratio of 46.11 and a beta of 1.02. The stock has a fifty day moving average of $16.81 and a 200-day moving average of $17.53. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 1.41. Portman Ridge Finance has a 52-week low of $15.94 and a 52-week high of $20.84.

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.