Portman Ridge Finance (NASDAQ:PTMN) Price Target Cut to $18.00 by Analysts at Keefe, Bruyette & Woods

Portman Ridge Finance (NASDAQ:PTMN) had its target price decreased by Keefe, Bruyette & Woods from $19.00 to $18.00 in a research report report published on Thursday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Portman Ridge Finance Stock Up 1.4 %

PTMN traded up $0.25 on Thursday, hitting $18.00. 124,605 shares of the company were exchanged, compared to its average volume of 41,168. Portman Ridge Finance has a 12 month low of $16.27 and a 12 month high of $20.84. The company has a market cap of $165.78 million, a PE ratio of 47.97 and a beta of 1.02. The stock’s fifty day moving average is $18.33 and its 200-day moving average is $19.02. The company has a debt-to-equity ratio of 1.41, a quick ratio of 4.40 and a current ratio of 3.14.

Portman Ridge Finance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 19th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 15.33%. The ex-dividend date is Tuesday, November 19th. Portman Ridge Finance’s dividend payout ratio (DPR) is presently 745.97%.

Institutional Trading of Portman Ridge Finance

Several institutional investors have recently added to or reduced their stakes in PTMN. Confluence Investment Management LLC lifted its position in Portman Ridge Finance by 1.8% in the 2nd quarter. Confluence Investment Management LLC now owns 59,679 shares of the company’s stock valued at $1,171,000 after acquiring an additional 1,075 shares in the last quarter. Redhawk Wealth Advisors Inc. bought a new position in shares of Portman Ridge Finance during the 2nd quarter valued at $787,000. International Assets Investment Management LLC bought a new position in shares of Portman Ridge Finance during the 2nd quarter valued at $59,000. Ritholtz Wealth Management bought a new stake in Portman Ridge Finance in the 2nd quarter worth $272,000. Finally, Founders Financial Alliance LLC grew its holdings in Portman Ridge Finance by 74.2% in the 2nd quarter. Founders Financial Alliance LLC now owns 49,954 shares of the company’s stock worth $980,000 after acquiring an additional 21,273 shares during the last quarter. 30.14% of the stock is currently owned by institutional investors.

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.