104,167 Shares in Portman Ridge Finance Co. (NASDAQ:PTMN) Bought by Raymond James Financial Inc.

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

Separately, Trexquant Investment LP raised its stake in 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 buying an additional 21,859 shares during the period. 30.14% of the stock is owned by institutional investors.

Portman Ridge Finance Stock Performance

NASDAQ PTMN opened at $12.15 on Friday. The stock has a market cap of $111.76 million, a PE ratio of 32.84 and a beta of 0.64. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.14 and a current ratio of 3.14. The firm has a 50-day moving average of $14.23 and a 200-day moving average of $16.14. Portman Ridge Finance Co. has a 52-week low of $11.60 and a 52-week high of $20.84.

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

Portman Ridge Finance Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 24th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 15.47%. The ex-dividend date of this dividend was Monday, March 24th. Portman Ridge Finance's dividend payout ratio is -293.75%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods reduced their target price on Portman Ridge Finance from $16.00 to $14.00 and set a "market perform" rating for the company in a research note on Tuesday, April 8th.

Portman Ridge Finance 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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