Repertoire Partners LP Has $3.71 Million Holdings in Portman Ridge Finance Co. (NASDAQ:PTMN)

Repertoire Partners LP reduced its holdings in Portman Ridge Finance Co. (NASDAQ:PTMN - Free Report) by 60.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,000 shares of the company's stock after selling 304,520 shares during the quarter. Portman Ridge Finance makes up approximately 4.2% of Repertoire Partners LP's holdings, making the stock its 6th largest holding. Repertoire Partners LP owned about 2.17% of Portman Ridge Finance worth $3,710,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Confluence Investment Management LLC lifted its holdings in Portman Ridge Finance by 1.8% during the 3rd quarter. Confluence Investment Management LLC now owns 60,751 shares of the company's stock worth $1,127,000 after buying an additional 1,072 shares in the last quarter. Founders Financial Alliance LLC lifted its stake 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 valued at $980,000 after purchasing an additional 21,273 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Portman Ridge Finance by 1,340.3% in 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 period. Redhawk Wealth Advisors Inc. lifted 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 purchasing an additional 3,038 shares during the period. Finally, Ritholtz Wealth Management acquired a new position in shares of Portman Ridge Finance in the 2nd quarter valued at $272,000. 30.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Portman Ridge Finance Trading Down 0.1 %

Shares of PTMN traded down $0.02 during trading hours on Thursday, reaching $16.64. The stock had a trading volume of 72,040 shares, compared to its average volume of 44,045. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 1.41. Portman Ridge Finance Co. has a 52 week low of $16.50 and a 52 week high of $20.84. The firm has a 50-day moving average of $17.94 and a 200 day moving average of $18.73. The company has a market cap of $153.30 million, a P/E ratio of 44.97 and a beta of 0.99.

Portman Ridge Finance Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 16.59%. The ex-dividend date was Tuesday, November 19th. Portman Ridge Finance's dividend payout ratio (DPR) is presently 745.95%.

Portman Ridge Finance 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.