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

Portman Ridge Finance Co. (NASDAQ:PTMN) was the recipient of a significant increase in short interest in 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 stock are short sold. Based on an average trading volume of 41,300 shares, the days-to-cover ratio is presently 1.1 days.

Portman Ridge Finance Stock Up 1.0 %

Shares of NASDAQ:PTMN traded up $0.19 during trading on Monday, hitting $19.74. 30,340 shares of the company were exchanged, compared to its average volume of 41,779. The stock has a market capitalization 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 current ratio of 5.92 and a quick ratio of 5.92. Portman Ridge Finance has a 12-month low of $16.27 and a 12-month high of $21.20. The firm’s 50 day moving average price is $18.97 and its 200-day moving average price is $18.23.

Portman Ridge Finance (NASDAQ:PTMN) last issued its quarterly earnings data on Wednesday, March 13th. The company reported $1.19 earnings per share for the quarter. The business had revenue of $17.79 million during the quarter, compared to the consensus estimate of $18.56 million. Portman Ridge Finance had a net margin of 14.91% and a return on equity of 16.02%. On average, research analysts predict that Portman Ridge Finance will post 2.86 earnings per share for the current fiscal year.

Portman Ridge Finance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Investors 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 Trading of Portman Ridge Finance

Several institutional investors and hedge funds have recently bought and sold shares of the business. Advisors Asset Management Inc. raised its position in Portman Ridge Finance by 6.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 159,568 shares of the company’s stock valued at $3,072,000 after purchasing an additional 9,765 shares during the last quarter. Punch & Associates Investment Management Inc. raised its position in Portman Ridge Finance by 2.6% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 119,115 shares of the company’s stock valued at $2,293,000 after purchasing an additional 3,074 shares during the last quarter. Privium Fund Management UK Ltd purchased a new stake in Portman Ridge Finance in the 4th quarter valued at $1,789,000. Kennedy Capital Management LLC purchased a new stake in Portman Ridge Finance in the 3rd quarter valued at $1,441,000. Finally, Confluence Investment Management LLC purchased a new stake in Portman Ridge Finance in the 1st quarter valued at $1,112,000. Hedge funds and other institutional investors own 30.14% of the company’s stock.

Analysts Set New Price Targets

PTMN has been the topic of several analyst reports. Keefe, Bruyette & Woods reduced their target price on shares of Portman Ridge Finance from $20.50 to $20.00 and set a “market perform” rating on the stock in a report on Monday, March 18th. Oppenheimer restated a “market perform” rating and set a $20.00 price objective on shares of Portman Ridge Finance in a research report on Friday, March 15th.

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.