Keefe, Bruyette & Woods Issues Pessimistic Forecast for Portman Ridge Finance (NASDAQ:BCIC) Stock Price

Key Points

• Keefe, Bruyette & Woods lowered Portman Ridge Finance’s price target to $7.50 from $9.00 while maintaining a “market perform” rating, implying only 0.79% upside. The analyst consensus is “Reduce,” with an average target of $7.50.
• BCIC shares opened at $7.44 and remain near the lower end of their 12-month range of $6.70 to $13.50. The company has a market capitalization of approximately $92.1 million and a negative price-to-earnings ratio of -13.57.
• Insider activity was mixed: Director Dean C. Kehler sold 15,000 shares, while CEO Edward J. Goldthorpe purchased 13,738 shares. Institutional investors and hedge funds own approximately 30.14% of the stock.

Portman Ridge Finance (NASDAQ:BCIC - Get Free Report) had its price objective lowered by investment analysts at Keefe, Bruyette & Woods from $9.00 to $7.50 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 0.79% from the company's previous close.

A number of other research firms have also commented on BCIC. Zacks Research upgraded Portman Ridge Finance from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 13th. Weiss Ratings reissued a "sell (d+)" rating on shares of Portman Ridge Finance in a report on Friday, May 22nd. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Portman Ridge Finance has a consensus rating of "Reduce" and an average target price of $7.50.

Portman Ridge Finance Stock Up 0.7%

Shares of NASDAQ:BCIC opened at $7.44 on Monday. Portman Ridge Finance has a 12-month low of $6.70 and a 12-month high of $13.50. The stock's 50 day simple moving average is $7.30. The firm has a market cap of $92.12 million, a price-to-earnings ratio of -13.57 and a beta of 0.50. The company has a debt-to-equity ratio of 1.74, a quick ratio of 4.43 and a current ratio of 4.43.

Insider Activity at Portman Ridge Finance

In other Portman Ridge Finance news, Director Dean C. Kehler sold 15,000 shares of the business's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $7.64, for a total transaction of $114,600.00. Following the completion of the transaction, the director directly owned 5,649 shares in the company, valued at $43,158.36. The trade was a 72.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward J. Goldthorpe bought 13,738 shares of the business's stock in a transaction on Monday, June 22nd. The shares were acquired at an average price of $7.16 per share, with a total value of $98,364.08. Following the completion of the purchase, the chief executive officer directly owned 99,878 shares of the company's stock, valued at approximately $715,126.48. The trade was a 15.95% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Portman Ridge Finance

An institutional investor recently bought a new stake in Portman Ridge Finance stock. Arlington Trust Co LLC acquired a new stake in Portman Ridge Finance Corp (NASDAQ:BCIC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,468 shares of the company's stock, valued at approximately $29,000. 30.14% of the stock is currently owned by institutional investors and hedge funds.

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, buyout in middle market companies. It also makes acquisitions in businesses complementary to the firm's business. It primarily invests in healthcare, cargo transport, manufacturing, industrial & environmental services, logistics & distribution, media & telecommunications, real estate, education, automotive, agriculture, aerospace/defense, packaging, electronics, finance, non-durable consumer, consumer products, business services, utilities, insurance, and food and beverage sectors.

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