Two Sigma Advisers LP Purchases 50,500 Shares of Portman Ridge Finance Co. (NASDAQ:PTMN)

Two Sigma Advisers LP increased its stake in shares of Portman Ridge Finance Co. (NASDAQ:PTMN - Free Report) by 39.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 178,200 shares of the company's stock after acquiring an additional 50,500 shares during the quarter. Two Sigma Advisers LP owned about 1.93% of Portman Ridge Finance worth $2,912,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bulldog Investors LLP boosted its position in shares of Portman Ridge Finance by 155.0% during the fourth quarter. Bulldog Investors LLP now owns 216,546 shares of the company's stock worth $3,539,000 after acquiring an additional 131,630 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Portman Ridge Finance during the fourth quarter worth $1,702,000. Trexquant Investment LP boosted its position in shares of Portman Ridge Finance by 50.3% during the fourth quarter. Trexquant Investment LP now owns 65,351 shares of the company's stock worth $1,068,000 after acquiring an additional 21,859 shares during the last quarter. Founders Financial Alliance LLC boosted its position in shares of Portman Ridge Finance by 6.3% during the fourth quarter. Founders Financial Alliance LLC now owns 62,217 shares of the company's stock worth $1,017,000 after acquiring an additional 3,671 shares during the last quarter. Finally, Virtus ETF Advisers LLC boosted its position 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 worth $488,000 after acquiring an additional 6,031 shares during the last quarter. Institutional investors own 30.14% of the company's stock.

Portman Ridge Finance Price Performance

PTMN stock traded down $0.01 during trading on Friday, hitting $12.07. 40,836 shares of the company's stock traded hands, compared to its average volume of 47,105. Portman Ridge Finance Co. has a 52 week low of $11.60 and a 52 week high of $20.08. 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 business has a fifty day simple moving average of $12.48 and a 200 day simple moving average of $15.23. The stock has a market capitalization of $111.08 million, a price-to-earnings ratio of 32.62 and a beta of 0.64.

Portman Ridge Finance (NASDAQ:PTMN - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.13). Portman Ridge Finance had a net margin of 5.47% and a return on equity of 14.68%. The business had revenue of $12.12 million for the quarter, compared to the consensus estimate of $14.04 million. As a group, research analysts expect that Portman Ridge Finance Co. will post 2.64 EPS for the current fiscal year.

Portman Ridge Finance Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Monday, May 19th were given a dividend of $0.47 per share. The ex-dividend date was Monday, May 19th. This represents a $1.88 annualized dividend and a yield of 15.58%. Portman Ridge Finance's dividend payout ratio (DPR) is currently -166.37%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lowered their price objective on shares of 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 Company 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.