122,447 Shares in Portman Ridge Finance Corporation $PTMN Acquired by JB Capital Partners LP

Key Points

• JB Capital Partners LP acquired a new stake of 122,447 shares in Portman Ridge Finance (NASDAQ:PTMN) in Q3, valued at about $1.41 million and representing roughly 0.93% ownership at quarter end.
• Several other funds also adjusted positions in PTMN during recent quarters, and institutional investors now own about 30.14% of the company's shares.
• PTMN opened at $8.43 with a market cap of $111.21 million, a negative P/E of -9.06, 50- and 200-day simple moving averages near $11.71 and $11.99 respectively, and a debt-to-equity ratio of 1.54.

JB Capital Partners LP acquired a new stake in Portman Ridge Finance Corporation (NASDAQ:PTMN - Free Report) in the third quarter, according to its most recent filing with the SEC. The fund acquired 122,447 shares of the company's stock, valued at approximately $1,412,000. JB Capital Partners LP owned approximately 0.93% of Portman Ridge Finance at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PTMN. Arlington Trust Co LLC boosted its holdings in shares of Portman Ridge Finance by 100.0% in the third quarter. Arlington Trust Co LLC now owns 3,000 shares of the company's stock worth $35,000 after acquiring an additional 1,500 shares during the period. Perigon Wealth Management LLC bought a new stake in shares of Portman Ridge Finance during the 3rd quarter valued at $121,000. Winnow Wealth LLC purchased a new stake in Portman Ridge Finance during the 2nd quarter worth about $201,000. Royal Bank of Canada lifted its holdings in Portman Ridge Finance by 69.9% during the 1st quarter. Royal Bank of Canada now owns 16,354 shares of the company's stock worth $235,000 after purchasing an additional 6,730 shares in the last quarter. Finally, Cruiser Capital Advisors LLC bought a new position in Portman Ridge Finance in the 3rd quarter worth about $236,000. Institutional investors own 30.14% of the company's stock.

Portman Ridge Finance Stock Down 1.2%

PTMN stock opened at $8.43 on Monday. The stock has a 50-day simple moving average of $11.71 and a two-hundred day simple moving average of $11.99. Portman Ridge Finance Corporation has a twelve month low of $11.48 and a twelve month high of $18.92. The firm has a market capitalization of $111.21 million, a PE ratio of -9.06 and a beta of 0.60. The company has a quick ratio of 3.11, a current ratio of 3.11 and a debt-to-equity ratio of 1.54.

Portman Ridge Finance Company Profile

Portman Ridge Finance NASDAQ: PTMN is a publicly traded, closed-end management investment company that has elected to be regulated as a Business Development Company (BDC) under the Investment Company Act of 1940. Since its formation in 2015, the firm has focused on providing customized financing solutions to U.S. middle-market companies, including senior secured loans, unitranche instruments, mezzanine debt and select equity co‐investments. Its flexible approach allows Portman Ridge to structure transactions that address a range of sponsor-backed and privately negotiated financing needs.

The company's portfolio spans a variety of industry sectors such as healthcare, business services, consumer goods and industrials.

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