Portman Ridge Finance Co. (NASDAQ:PTMN) is Repertoire Partners LP's 9th Largest Position

Repertoire Partners LP lowered its stake in shares of Portman Ridge Finance Co. (NASDAQ:PTMN - Free Report) by 69.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 61,855 shares of the company's stock after selling 138,145 shares during the period. Portman Ridge Finance makes up approximately 0.4% of Repertoire Partners LP's investment portfolio, making the stock its 9th largest position. Repertoire Partners LP owned 0.67% of Portman Ridge Finance worth $1,011,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PTMN. Founders Financial Alliance LLC increased its holdings in Portman Ridge Finance by 6.3% during the 4th quarter. Founders Financial Alliance LLC now owns 62,217 shares of the company's stock valued at $1,017,000 after acquiring an additional 3,671 shares in the last quarter. Virtus ETF Advisers LLC increased its stake in shares of Portman Ridge Finance by 25.3% in the fourth quarter. Virtus ETF Advisers LLC now owns 29,852 shares of the company's stock valued at $488,000 after purchasing an additional 6,031 shares during the period. Two Sigma Investments LP grew its holdings in Portman Ridge Finance by 25.3% during the fourth quarter. Two Sigma Investments LP now owns 106,165 shares of the company's stock worth $1,735,000 after acquiring an additional 21,425 shares during the period. Trexquant Investment LP grew its position in Portman Ridge Finance by 50.3% during the 4th quarter. Trexquant Investment LP now owns 65,351 shares of the company's stock worth $1,068,000 after purchasing an additional 21,859 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in shares of Portman Ridge Finance by 39.5% during the 4th quarter. Two Sigma Advisers LP now owns 178,200 shares of the company's stock valued at $2,912,000 after buying an additional 50,500 shares during the period. Institutional investors and hedge funds own 30.14% of the company's stock.

Analyst Upgrades and Downgrades

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 report on Tuesday, April 8th.

Portman Ridge Finance Stock Down 1.0%

Shares of NASDAQ PTMN opened at $12.27 on Wednesday. The stock's fifty day moving average is $13.02 and its 200 day moving average is $15.58. The stock has a market capitalization of $112.92 million, a P/E ratio of 33.16 and a beta of 0.64. Portman Ridge Finance Co. has a 52 week low of $11.60 and a 52 week high of $20.10. 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 (NASDAQ:PTMN - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.13). The firm had revenue of $12.12 million during the quarter, compared to analysts' expectations of $14.04 million. Portman Ridge Finance had a return on equity of 14.68% and a net margin of 5.47%. Sell-side analysts forecast that Portman Ridge Finance Co. will post 2.64 earnings per share for the current fiscal year.

Portman Ridge Finance Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, May 19th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 15.32%. The ex-dividend date of this dividend is Monday, May 19th. Portman Ridge Finance's dividend payout ratio (DPR) is -166.37%.

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.

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