Portman Ridge Finance (NASDAQ:PTMN) Stock Price Down 0.3% - What's Next?

Portman Ridge Finance Co. (NASDAQ:PTMN - Get Free Report)'s share price was down 0.3% during trading on Monday . The company traded as low as $16.30 and last traded at $16.35. Approximately 28,721 shares changed hands during mid-day trading, an increase of 32% from the average daily volume of 21,807 shares. The stock had previously closed at $16.40.

Wall Street Analyst Weigh In

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

Portman Ridge Finance Stock Down 0.8 %

The firm has a market cap of $149.43 million, a PE ratio of 43.84 and a beta of 1.00. The stock has a 50 day simple moving average of $17.12 and a 200-day simple moving average of $18.25. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.14 and a quick ratio of 3.14.

Portman Ridge Finance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 17.02%. The ex-dividend date was Tuesday, November 19th. Portman Ridge Finance's dividend payout ratio is presently 745.95%.

Institutional Investors Weigh In On Portman Ridge Finance

A number of hedge funds have recently made changes to their positions in PTMN. Founders Financial Alliance LLC grew its stake 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 buying an additional 21,273 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its holdings in shares of Portman Ridge Finance by 7.6% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 43,140 shares of the company's stock valued at $800,000 after purchasing an additional 3,038 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Portman Ridge Finance during the 3rd quarter valued at $251,000. International Assets Investment Management LLC lifted its holdings in shares of Portman Ridge Finance by 1,340.3% during the 3rd quarter. International Assets Investment Management LLC now owns 43,166 shares of the company's stock valued at $801,000 after purchasing an additional 40,169 shares during the last quarter. Finally, Confluence Investment Management LLC raised its stake 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 worth $1,127,000 after acquiring an additional 1,072 shares during the last quarter. 30.14% of the stock is currently owned by hedge funds and other 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.