Portman Ridge Finance (NASDAQ:BCIC) Raised to “Hold” at Zacks Research

Portman Ridge Finance (NASDAQ:BCIC) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

BCIC has been the topic of a number of other reports. Weiss Ratings cut Portman Ridge Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 23rd. Keefe, Bruyette & Woods decreased their price target 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. Wall Street Zen raised Portman Ridge Finance from a “sell” rating to a “hold” rating in a research note on Wednesday, March 18th. Finally, LADENBURG THALM/SH SH cut Portman Ridge Finance from a “buy” rating to a “neutral” rating in a research note on Monday, March 9th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Portman Ridge Finance has a consensus rating of “Reduce” and an average price target of $9.00.

Portman Ridge Finance Price Performance

Shares of Portman Ridge Finance stock opened at $7.87 on Wednesday. The company has a quick ratio of 2.52, a current ratio of 4.43 and a debt-to-equity ratio of 1.74. The stock has a 50 day moving average of $8.08. The stock has a market cap of $97.43 million, a PE ratio of -32.79 and a beta of 0.51. Portman Ridge Finance has a one year low of $7.11 and a one year high of $13.50.

Insider Activity

In other news, Director Dean C. Kehler sold 27,378 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $7.60, for a total transaction of $208,072.80. Following the transaction, the director directly owned 57,749 shares of the company’s stock, valued at approximately $438,892.40. The trade was a 32.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 80,021 shares of company stock worth $652,828 over the last 90 days. 1.30% of the stock is currently owned by insiders.

Hedge Funds 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) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,468 shares of the company’s stock, valued at approximately $29,000. 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.