Portman Ridge Finance Co. (NASDAQ:PTMN) Sees Significant Growth in Short Interest

Portman Ridge Finance Co. (NASDAQ:PTMNGet Free Report) was the target of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 52,200 shares, a growth of 22.8% from the January 15th total of 42,500 shares. Approximately 0.6% of the company’s shares are sold short. Based on an average daily volume of 55,200 shares, the short-interest ratio is currently 0.9 days.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lowered their price target on shares of Portman Ridge Finance from $19.00 to $18.00 and set a “market perform” rating for the company in a research note on Thursday, November 14th.

Check Out Our Latest Stock Analysis on PTMN

Portman Ridge Finance Trading Up 0.2 %

Shares of PTMN stock traded up $0.03 during mid-day trading on Friday, reaching $17.31. The stock had a trading volume of 25,961 shares, compared to its average volume of 33,090. The stock’s 50-day moving average price is $16.62 and its two-hundred day moving average price is $17.68. Portman Ridge Finance has a 52-week low of $15.94 and a 52-week high of $20.84. The firm has a market capitalization of $159.48 million, a PE ratio of 46.79 and a beta of 1.01. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 1.41.

Hedge Funds Weigh In On Portman Ridge Finance

A number of hedge funds have recently modified their holdings of PTMN. Sequoia Financial Advisors LLC purchased a new position in shares of Portman Ridge Finance in the third quarter valued at about $251,000. Virtus ETF Advisers LLC increased its position in shares of Portman Ridge Finance by 25.3% in the fourth quarter. Virtus ETF Advisers LLC now owns 29,852 shares of the company’s stock valued at $488,000 after acquiring an additional 6,031 shares during the period. International Assets Investment Management LLC increased its position in shares of Portman Ridge Finance by 1,340.3% in the third quarter. International Assets Investment Management LLC now owns 43,166 shares of the company’s stock valued at $801,000 after acquiring an additional 40,169 shares during the period. Founders Financial Alliance LLC increased its position in shares of Portman Ridge Finance by 6.3% in the fourth quarter. Founders Financial Alliance LLC now owns 62,217 shares of the company’s stock valued at $1,017,000 after acquiring an additional 3,671 shares during the period. Finally, Trexquant Investment LP increased its position in shares of Portman Ridge Finance by 50.3% in the fourth quarter. Trexquant Investment LP now owns 65,351 shares of the company’s stock valued at $1,068,000 after acquiring an additional 21,859 shares during the period. Hedge funds and other institutional investors own 30.14% of the company’s stock.

Portman Ridge Finance Company Profile

(Get Free Report)

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.

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