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

Repertoire Partners LP cut its stake in shares of Portman Ridge Finance Co. (NASDAQ:PTMN - Free Report) by 69.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,855 shares of the company's stock after selling 138,145 shares during the quarter. Portman Ridge Finance accounts for about 0.4% of Repertoire Partners LP's investment portfolio, making the stock its 9th largest holding. Repertoire Partners LP owned approximately 0.67% of Portman Ridge Finance worth $1,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of PTMN. Virtus ETF Advisers LLC raised its stake in shares of Portman Ridge Finance by 25.3% during the fourth quarter. Virtus ETF Advisers LLC now owns 29,852 shares of the company's stock valued at $488,000 after acquiring an additional 6,031 shares during the last quarter. 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 purchasing an additional 3,671 shares during the period. Trexquant Investment LP increased its holdings in Portman Ridge Finance by 50.3% during the 4th quarter. Trexquant Investment LP now owns 65,351 shares of the company's stock valued at $1,068,000 after purchasing an additional 21,859 shares during the period. Raymond James Financial Inc. bought a new position in Portman Ridge Finance during the 4th quarter valued at approximately $1,702,000. Finally, Two Sigma Investments LP lifted its holdings in Portman Ridge Finance by 25.3% in the 4th quarter. Two Sigma Investments LP now owns 106,165 shares of the company's stock worth $1,735,000 after buying an additional 21,425 shares during the period. 30.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Portman Ridge Finance Trading Down 1.2%

Shares of PTMN traded down $0.14 during trading hours on Monday, reaching $11.84. 70,442 shares of the company traded hands, compared to its average volume of 46,916. Portman Ridge Finance Co. has a 12 month low of $11.60 and a 12 month high of $20.10. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 1.41. The company's fifty day moving average price is $12.80 and its two-hundred day moving average price is $15.42. The company has a market capitalization of $108.96 million, a price-to-earnings ratio of 32.00 and a beta of 0.64.

Portman Ridge Finance (NASDAQ:PTMN - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.47 EPS for the quarter, missing analysts' consensus estimates 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 net margin of 5.47% and a return on equity of 14.68%. Equities research analysts predict 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 disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, May 19th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 15.88%. The ex-dividend date is Monday, May 19th. Portman Ridge Finance's payout ratio is currently -166.37%.

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.