Two Sigma Investments LP increased its stake in shares of Portman Ridge Finance Co. (NASDAQ:PTMN - Free Report) by 25.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 106,165 shares of the company's stock after acquiring an additional 21,425 shares during the period. Two Sigma Investments LP owned about 1.15% of Portman Ridge Finance worth $1,735,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Bulldog Investors LLP boosted its position in Portman Ridge Finance by 155.0% in the 4th quarter. Bulldog Investors LLP now owns 216,546 shares of the company's stock worth $3,539,000 after purchasing an additional 131,630 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in Portman Ridge Finance by 39.5% during the fourth quarter. Two Sigma Advisers LP now owns 178,200 shares of the company's stock worth $2,912,000 after buying an additional 50,500 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Portman Ridge Finance in the fourth quarter valued at $1,702,000. Trexquant Investment LP raised its position in shares of Portman Ridge Finance by 50.3% in 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 period. Finally, Founders Financial Alliance LLC grew its position in shares of 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 during the period. 30.14% of the stock is currently owned by hedge funds and other institutional investors.
Portman Ridge Finance Price Performance
Portman Ridge Finance stock traded down $0.08 during midday trading on Thursday, reaching $11.67. The company had a trading volume of 32,337 shares, compared to its average volume of 47,163. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.14 and a quick ratio of 3.14. Portman Ridge Finance Co. has a 12-month low of $11.60 and a 12-month high of $19.95. The company has a market capitalization of $107.40 million, a P/E ratio of 31.54 and a beta of 0.56. The firm's fifty day simple moving average is $12.32 and its 200-day simple moving average is $15.13.
Portman Ridge Finance (NASDAQ:PTMN - Get Free Report) last posted its quarterly earnings results 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 business 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%. As a group, equities analysts anticipate that Portman Ridge Finance Co. will post 2.64 EPS for the current year.
Portman Ridge Finance Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Monday, May 19th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 16.11%. The ex-dividend date was Monday, May 19th. Portman Ridge Finance's dividend payout ratio (DPR) is -166.37%.
Analyst Ratings Changes
Separately, Keefe, Bruyette & Woods dropped their price target on shares of 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.
Get Our Latest Research Report on Portman Ridge Finance
About Portman Ridge Finance
(
Free Report)
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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