Edward Goldthorpe Purchases 13,738 Shares of Portman Ridge Finance (NASDAQ:BCIC) Stock

Portman Ridge Finance Corp (NASDAQ:BCIC) CEO Edward Goldthorpe acquired 13,738 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was bought at an average price of $7.16 per share, with a total value of $98,364.08. Following the completion of the acquisition, the chief executive officer directly owned 99,878 shares in the company, valued at approximately $715,126.48. This represents a 15.95% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Portman Ridge Finance Trading Up 2.1%

NASDAQ:BCIC opened at $7.15 on Friday. The stock has a 50-day moving average of $7.65. The stock has a market cap of $88.52 million, a PE ratio of -29.79 and a beta of 0.50. The company has a debt-to-equity ratio of 1.74, a quick ratio of 4.43 and a current ratio of 4.43. Portman Ridge Finance Corp has a 12 month low of $6.70 and a 12 month high of $13.50.

Portman Ridge Finance Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $0.09 dividend. This represents a c) dividend on an annualized basis and a yield of 15.1%. The ex-dividend date of this dividend is Tuesday, September 15th. Portman Ridge Finance’s dividend payout ratio is presently -450.00%.

Institutional Investors Weigh In On Portman Ridge Finance

A hedge fund recently bought a new stake in Portman Ridge Finance stock. Arlington Trust Co LLC bought a new stake in shares of Portman Ridge Finance Corp (NASDAQ:BCIC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,468 shares of the company’s stock, valued at approximately $29,000. 30.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BCIC shares. Keefe, Bruyette & Woods reduced their target price on Portman Ridge Finance from $14.00 to $9.00 and set a “market perform” rating on the stock in a report on Tuesday, March 10th. Zacks Research upgraded Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. LADENBURG THALM/SH SH lowered Portman Ridge Finance from a “buy” rating to a “neutral” rating in a research report on Monday, March 9th. Wall Street Zen raised Portman Ridge Finance from a “sell” rating to a “hold” rating in a research note on Wednesday, March 18th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Portman Ridge Finance in a report on Friday, May 22nd. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Portman Ridge Finance currently has an average rating of “Reduce” and an average target price of $9.00.

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, 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.