Alexander Duka Purchases 2,000 Shares of Portman Ridge Finance (NASDAQ:BCIC) Stock

Portman Ridge Finance Corp (NASDAQ:BCIC) Director Alexander Duka acquired 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The stock was purchased at an average cost of $7.33 per share, with a total value of $14,660.00. Following the acquisition, the director owned 3,000 shares in the company, valued at $21,990. The trade was a 200.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Portman Ridge Finance Stock Up 3.2%

NASDAQ BCIC opened at $7.45 on Wednesday. The stock has a market capitalization of $92.31 million, a P/E ratio of 13.07 and a beta of 0.39. Portman Ridge Finance Corp has a 52 week low of $7.11 and a 52 week high of $15.00. The company has a debt-to-equity ratio of 1.47, a quick ratio of 2.52 and a current ratio of 2.52. The firm’s 50-day simple moving average is $10.73.

Portman Ridge Finance Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $0.09 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 14.5%. Portman Ridge Finance’s payout ratio is 224.56%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Weiss Ratings downgraded shares of Portman Ridge Finance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 23rd. Zacks Research downgraded Portman Ridge Finance from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 11th. LADENBURG THALM/SH SH lowered Portman Ridge Finance from a “buy” rating to a “neutral” rating in a report on Monday, March 9th. Wall Street Zen upgraded Portman Ridge Finance from a “sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Finally, Keefe, Bruyette & Woods decreased their price objective on Portman Ridge Finance from $14.00 to $9.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 10th. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Portman Ridge Finance presently has an average rating of “Reduce” and a consensus target price of $9.00.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Portman Ridge Finance stock. Arlington Trust Co LLC purchased a new position in shares of Portman Ridge Finance Corp (NASDAQ:BCIC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,468 shares of the company’s stock, valued at approximately $29,000. Hedge funds and other institutional investors own 30.14% of the company’s stock.

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, buyout in middle market companies. It also makes acquisitions in businesses complementary to the firm’s business. It primarily invests in healthcare, cargo transport, manufacturing, industrial & environmental services, logistics & distribution, media & telecommunications, real estate, education, automotive, agriculture, aerospace/defense, packaging, electronics, finance, non-durable consumer, consumer products, business services, utilities, insurance, and food and beverage sectors.