Portman Ridge Finance Co. (NASDAQ:PTMN) Short Interest Update

Portman Ridge Finance Co. (NASDAQ:PTMN) saw a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 34,500 shares, a drop of 31.0% from the November 15th total of 50,000 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average trading volume of 51,400 shares, the short-interest ratio is currently 0.7 days.

Wall Street Analysts Forecast Growth

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

Portman Ridge Finance Stock Performance

PTMN traded down $0.13 on Friday, reaching $16.73. The company had a trading volume of 15,719 shares, compared to its average volume of 44,070. Portman Ridge Finance has a fifty-two week low of $16.50 and a fifty-two week high of $20.84. The stock has a market cap of $154.13 million, a P/E ratio of 45.22 and a beta of 0.99. The company’s fifty day moving average is $17.74 and its 200 day moving average is $18.61. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.14 and a current ratio of 3.14.

Portman Ridge Finance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were paid a $0.69 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $2.76 dividend on an annualized basis and a yield of 16.50%. Portman Ridge Finance’s dividend payout ratio (DPR) is currently 745.95%.

Institutional Trading of Portman Ridge Finance

A number of institutional investors have recently bought and sold shares of PTMN. International Assets Investment Management LLC boosted its holdings in Portman Ridge Finance by 1,340.3% in the 3rd quarter. International Assets Investment Management LLC now owns 43,166 shares of the company’s stock valued at $801,000 after purchasing an additional 40,169 shares during the period. Founders Financial Alliance LLC lifted its holdings in shares of Portman Ridge Finance by 74.2% during 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 period. Ritholtz Wealth Management bought a new stake in shares of Portman Ridge Finance during the 2nd quarter worth approximately $272,000. Sequoia Financial Advisors LLC bought a new stake in shares of Portman Ridge Finance during the 3rd quarter worth approximately $251,000. Finally, Redhawk Wealth Advisors Inc. lifted its holdings in shares of Portman Ridge Finance by 7.6% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 43,140 shares of the company’s stock worth $800,000 after acquiring an additional 3,038 shares during the period. 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, mezzanine, buyout in middle market companies. It also makes acquisitions in businesses complementary to the firm's business.