Alexander Duka Purchases 2,000 Shares of Portman Ridge Finance (NASDAQ:BCIC) Stock

Key Points

• Director Alexander Duka bought 2,000 shares on March 20 at an average price of $7.33, increasing his holdings to 3,000 shares (a 200% rise), as disclosed in an SEC filing.
• Portman Ridge announced a monthly dividend of $0.09 (record June 15, paid June 30), implying about a 15.0% yield, though the payout ratio is very high at 224.56%.
• The stock has weak analyst sentiment (consensus rating: "Reduce", average price target $9.00), and was trading around $7.22 (near its 52-week low) amid recent downgrades.

Portman Ridge Finance Corp (NASDAQ:BCIC - Get Free Report) Director Alexander Duka acquired 2,000 shares of the firm's stock in a transaction that occurred on Friday, March 20th. The stock was purchased at an average cost of $7.33 per share, with a total value of $14,660.00. Following the purchase, the director directly owned 3,000 shares in the company, valued at approximately $21,990. This trade represents a 200.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Portman Ridge Finance Trading Down 1.6%

NASDAQ BCIC traded down $0.12 on Monday, hitting $7.22. 251,267 shares of the stock were exchanged, compared to its average volume of 138,501. The company has a debt-to-equity ratio of 1.47, a quick ratio of 2.52 and a current ratio of 2.52. Portman Ridge Finance Corp has a 52-week low of $7.15 and a 52-week high of $15.06. The stock has a market cap of $89.46 million, a price-to-earnings ratio of 12.67 and a beta of 0.40.

Portman Ridge Finance Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.09 dividend. This represents a c) annualized dividend and a yield of 15.0%. The ex-dividend date is Monday, June 15th. Portman Ridge Finance's dividend payout ratio is currently 224.56%.

Institutional Investors Weigh In On Portman Ridge Finance

An institutional investor recently bought a new position in Portman Ridge Finance stock. Arlington Trust Co LLC acquired a new position in shares of Portman Ridge Finance Corp (NASDAQ:BCIC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,468 shares of the company's stock, valued at approximately $29,000. 30.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BCIC shares. Wall Street Zen raised shares of Portman Ridge Finance from a "sell" rating to a "hold" rating in a research note on Wednesday, March 18th. Keefe, Bruyette & Woods cut their price objective on Portman Ridge Finance from $14.00 to $9.00 and set a "market perform" rating for the company in a report on Tuesday, March 10th. Weiss Ratings cut Portman Ridge Finance from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, February 23rd. Zacks Research lowered Portman Ridge Finance from a "hold" rating to a "strong sell" rating in a research report on Wednesday, March 11th. Finally, LADENBURG THALM/SH SH downgraded Portman Ridge Finance from a "buy" rating to a "neutral" rating in a research note on Monday, March 9th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Portman Ridge Finance presently has a consensus rating of "Reduce" and an average price target of $9.00.

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, buyout in middle market companies. It also makes acquisitions in businesses complementary to the firm's business. It primarily invests in healthcare, cargo transport, manufacturing, industrial & environmental services, logistics & distribution, media & telecommunications, real estate, education, automotive, agriculture, aerospace/defense, packaging, electronics, finance, non-durable consumer, consumer products, business services, utilities, insurance, and food and beverage sectors.

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