Two Sigma Investments LP Has $1.74 Million Stake in Portman Ridge Finance Co. (NASDAQ:PTMN)

Two Sigma Investments LP increased its stake in shares of Portman Ridge Finance Co. (NASDAQ:PTMN - Free Report) by 25.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,165 shares of the company's stock after acquiring an additional 21,425 shares during the quarter. Two Sigma Investments LP owned about 1.15% of Portman Ridge Finance worth $1,735,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Bulldog Investors LLP increased its holdings in shares of Portman Ridge Finance by 155.0% during 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 during the period. Raymond James Financial Inc. bought a new position in Portman Ridge Finance during the fourth quarter valued at about $1,702,000. Two Sigma Advisers LP raised its holdings in Portman Ridge Finance by 39.5% in the 4th quarter. Two Sigma Advisers LP now owns 178,200 shares of the company's stock valued at $2,912,000 after acquiring an additional 50,500 shares in the last quarter. Trexquant Investment LP raised its holdings in Portman Ridge Finance by 50.3% in the 4th quarter. Trexquant Investment LP now owns 65,351 shares of the company's stock valued at $1,068,000 after acquiring an additional 21,859 shares in the last quarter. Finally, Virtus ETF Advisers LLC lifted its position in shares of Portman Ridge Finance by 25.3% in the 4th 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 period. 30.14% of the stock is currently owned by institutional investors and hedge funds.

Portman Ridge Finance Stock Performance

Portman Ridge Finance stock traded up $0.21 on Friday, hitting $11.76. The company's stock had a trading volume of 38,262 shares, compared to its average volume of 47,410. Portman Ridge Finance Co. has a one year low of $11.45 and a one year high of $19.95. The firm has a market cap of $108.23 million, a P/E ratio of 31.78 and a beta of 0.56. 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 has a fifty day moving average price of $12.21 and a 200-day moving average price of $15.04.

Portman Ridge Finance (NASDAQ:PTMN - Get Free Report) last issued its 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). 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 analyst estimates of $14.04 million. On average, equities analysts anticipate that Portman Ridge Finance Co. will post 2.64 earnings per share for the current year.

Portman Ridge Finance Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Monday, May 19th were paid a $0.47 dividend. The ex-dividend date was Monday, May 19th. This represents a $1.88 annualized dividend and a dividend yield of 15.99%. Portman Ridge Finance's dividend payout ratio is currently -166.37%.

Wall Street Analysts Forecast Growth

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

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.