Portman Ridge Finance Co. (NASDAQ:PTMN – Get 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 %
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
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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