Portman Ridge Finance Corp (NASDAQ:BCIC) Announces $0.09 Monthly Dividend

Portman Ridge Finance Corp (NASDAQ:BCIC) declared a monthly dividend on Thursday, August 6th. Stockholders of record on Thursday, October 15th will be given a dividend of 0.09 per share on Friday, October 30th. This represents a c) annualized dividend and a dividend yield of 14.4%. The ex-dividend date is Thursday, October 15th.

Portman Ridge Finance Price Performance

Shares of Portman Ridge Finance stock traded up $0.13 during trading on Friday, hitting $7.52. The stock had a trading volume of 109,859 shares, compared to its average volume of 84,512. Portman Ridge Finance has a fifty-two week low of $6.70 and a fifty-two week high of $13.50. The stock has a market capitalization of $93.10 million, a price-to-earnings ratio of -31.33 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. The firm’s fifty day simple moving average is $7.30.

Insider Activity

In other Portman Ridge Finance news, CEO Edward J. Goldthorpe acquired 13,738 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was purchased at an average price of $7.16 per share, with a total value of $98,364.08. Following the acquisition, the chief executive officer directly owned 99,878 shares of the company’s stock, valued at approximately $715,126.48. This trade represents a 15.95% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dean C. Kehler sold 15,000 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $7.64, for a total value of $114,600.00. Following the sale, the director directly owned 5,649 shares in the company, valued at $43,158.36. This represents a 72.64% decrease in their position. The SEC filing for this sale provides additional information. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Portman Ridge Finance

An institutional investor recently bought a new position in Portman Ridge Finance stock. Arlington Trust Co LLC acquired a new stake in shares of Portman Ridge Finance Corp (NASDAQ:BCIC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 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.

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.