Raymond James Financial Inc. Invests $1.70 Million in Portman Ridge Finance Co. (NASDAQ:PTMN)

Raymond James Financial Inc. acquired a new position in shares of Portman Ridge Finance Co. (NASDAQ:PTMN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 104,167 shares of the company's stock, valued at approximately $1,702,000. Raymond James Financial Inc. owned 1.13% of Portman Ridge Finance at the end of the most recent quarter.

Separately, Founders Financial Alliance LLC increased its holdings 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 worth $1,017,000 after acquiring an additional 3,671 shares in the last quarter. Institutional investors own 30.14% of the company's stock.

Portman Ridge Finance Stock Up 0.5 %

Shares of Portman Ridge Finance stock traded up $0.06 on Wednesday, hitting $12.23. The company had a trading volume of 38,601 shares, compared to its average volume of 46,857. The firm has a market capitalization of $112.55 million, a P/E ratio of 33.05 and a beta of 0.64. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.14 and a quick ratio of 3.14. Portman Ridge Finance Co. has a twelve month low of $11.60 and a twelve month high of $20.84. The stock has a 50-day moving average of $13.82 and a 200-day moving average of $15.97.

Portman Ridge Finance (NASDAQ:PTMN - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.68 by ($0.08). Portman Ridge Finance had a net margin of 5.47% and a return on equity of 14.68%. The business had revenue of $14.40 million during the quarter, compared to analyst estimates of $15.14 million. Research analysts predict that Portman Ridge Finance Co. will post 2.64 earnings per share for the current year.

Portman Ridge Finance Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 24th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 15.37%. The ex-dividend date of this dividend was Monday, March 24th. Portman Ridge Finance's dividend payout ratio (DPR) is presently -293.75%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods cut their price objective on Portman Ridge Finance from $16.00 to $14.00 and set a "market perform" rating on the stock in a report on Tuesday, April 8th.

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.