Portman Ridge Finance Co. (NASDAQ:PTMN) Short Interest Update

Portman Ridge Finance Co. (NASDAQ:PTMN) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 44,100 shares, an increase of 62.1% from the March 31st total of 27,200 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average daily volume of 41,300 shares, the short-interest ratio is presently 1.1 days.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PTMN shares. Oppenheimer reaffirmed a “market perform” rating and set a $20.00 price target on shares of Portman Ridge Finance in a research note on Friday, March 15th. Keefe, Bruyette & Woods dropped their price target on shares of Portman Ridge Finance from $20.50 to $20.00 and set a “market perform” rating for the company in a research note on Monday, March 18th.

Portman Ridge Finance Trading Up 1.0 %

Portman Ridge Finance stock traded up $0.19 during trading hours on Monday, hitting $19.74. The company had a trading volume of 30,340 shares, compared to its average volume of 41,779. The firm has a market cap of $184.37 million, a P/E ratio of 16.45 and a beta of 0.95. The company has a debt-to-equity ratio of 1.51, a quick ratio of 5.92 and a current ratio of 5.92. Portman Ridge Finance has a 1 year low of $16.27 and a 1 year high of $21.20. The company has a 50-day moving average price of $18.97 and a two-hundred day moving average price of $18.23.

Portman Ridge Finance (NASDAQ:PTMN) last released its quarterly earnings data on Wednesday, March 13th. The company reported $1.19 earnings per share (EPS) for the quarter. The company had revenue of $17.79 million during the quarter, compared to analysts’ expectations of $18.56 million. Portman Ridge Finance had a net margin of 14.91% and a return on equity of 16.02%. On average, sell-side analysts anticipate that Portman Ridge Finance will post 2.86 earnings per share for the current year.

Portman Ridge Finance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 25th were given a $0.69 dividend. The ex-dividend date was Friday, March 22nd. This represents a $2.76 annualized dividend and a yield of 13.98%. Portman Ridge Finance’s dividend payout ratio (DPR) is 230.00%.

Institutional Investors Weigh In On Portman Ridge Finance

Large investors have recently added to or reduced their stakes in the stock. Arlington Trust Co LLC purchased a new stake in Portman Ridge Finance in the 4th quarter valued at about $36,000. Cape Investment Advisory Inc. bought a new stake in shares of Portman Ridge Finance in the 4th quarter valued at about $62,000. WINTON GROUP Ltd bought a new stake in shares of Portman Ridge Finance in the 3rd quarter valued at about $202,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Portman Ridge Finance in the 3rd quarter valued at about $239,000. Finally, Founders Financial Alliance LLC bought a new stake in shares of Portman Ridge Finance in the 4th quarter valued at about $255,000. 30.14% of the stock is owned by hedge funds and other institutional investors.

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.