Wealth Enhancement Advisory Services LLC Makes New $2.68 Million Investment in Portman Ridge Finance Corporation $PTMN

Wealth Enhancement Advisory Services LLC acquired a new stake in Portman Ridge Finance Corporation (NASDAQ:PTMN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 232,354 shares of the company’s stock, valued at approximately $2,684,000. Wealth Enhancement Advisory Services LLC owned 1.76% of Portman Ridge Finance at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Arlington Trust Co LLC raised its position in Portman Ridge Finance by 100.0% in the 3rd quarter. Arlington Trust Co LLC now owns 3,000 shares of the company’s stock valued at $35,000 after purchasing an additional 1,500 shares during the last quarter. Perigon Wealth Management LLC acquired a new position in Portman Ridge Finance in the third quarter valued at $121,000. Winnow Wealth LLC purchased a new stake in shares of Portman Ridge Finance in the second quarter valued at about $201,000. Royal Bank of Canada boosted its stake in shares of Portman Ridge Finance by 69.9% during the first quarter. Royal Bank of Canada now owns 16,354 shares of the company’s stock worth $235,000 after buying an additional 6,730 shares during the period. Finally, Virtus Investment Advisers LLC grew its holdings in shares of Portman Ridge Finance by 15.3% during the second quarter. Virtus Investment Advisers LLC now owns 43,619 shares of the company’s stock worth $546,000 after buying an additional 5,775 shares during the last quarter. 30.14% of the stock is currently owned by hedge funds and other institutional investors.

Portman Ridge Finance Stock Performance

Shares of PTMN stock opened at $12.41 on Thursday. The stock’s 50-day moving average price is $12.40 and its 200 day moving average price is $12.21. The company has a quick ratio of 3.11, a current ratio of 3.11 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of $163.71 million, a PE ratio of -13.34 and a beta of 0.60. Portman Ridge Finance Corporation has a 52-week low of $11.48 and a 52-week high of $18.92.

Portman Ridge Finance Company Profile

Portman Ridge Finance (NASDAQ: PTMN) is a publicly traded, closed-end management investment company that has elected to be regulated as a Business Development Company (BDC) under the Investment Company Act of 1940. Since its formation in 2015, the firm has focused on providing customized financing solutions to U.S. middle-market companies, including senior secured loans, unitranche instruments, mezzanine debt and select equity co‐investments. Its flexible approach allows Portman Ridge to structure transactions that address a range of sponsor-backed and privately negotiated financing needs.

The company’s portfolio spans a variety of industry sectors such as healthcare, business services, consumer goods and industrials.