Portman Ridge Finance Co. (NASDAQ:PTMN) Short Interest Update

Portman Ridge Finance Co. (NASDAQ:PTMN - Get Free Report) was the target of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 44,100 shares, an increase of 62.1% from the March 31st total of 27,200 shares. Approximately 0.5% of the company's stock are sold short. Based on an average trading volume of 41,300 shares, the days-to-cover ratio is currently 1.1 days.

Portman Ridge Finance Trading Up 0.8 %

PTMN stock traded up $0.16 during trading on Friday, reaching $19.55. 21,647 shares of the stock traded hands, compared to its average volume of 34,326. The business's 50 day moving average price is $18.95 and its 200-day moving average price is $18.23. Portman Ridge Finance has a 52-week low of $16.27 and a 52-week high of $21.20. The company has a debt-to-equity ratio of 1.51, a current ratio of 5.92 and a quick ratio of 5.92. The firm has a market capitalization of $182.60 million, a PE ratio of 16.29 and a beta of 0.95.

Portman Ridge Finance (NASDAQ:PTMN - Get Free Report) last issued its quarterly earnings data on Wednesday, March 13th. The company reported $1.19 EPS for the quarter. Portman Ridge Finance had a return on equity of 16.02% and a net margin of 14.91%. The company had revenue of $17.79 million for the quarter, compared to analysts' expectations of $18.56 million. As a group, sell-side analysts forecast that Portman Ridge Finance will post 2.86 earnings per share for the current year.

Portman Ridge Finance Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 25th were issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 14.12%. The ex-dividend date was Friday, March 22nd. Portman Ridge Finance's dividend payout ratio (DPR) is presently 230.00%.

Hedge Funds Weigh In On Portman Ridge Finance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC increased its position in Portman Ridge Finance by 1,719.0% during the fourth quarter. International Assets Investment Management LLC now owns 58,153 shares of the company's stock worth $1,058,000 after buying an additional 54,956 shares during the last quarter. Arlington Trust Co LLC bought a new position in shares of Portman Ridge Finance in the fourth quarter valued at approximately $36,000. Punch & Associates Investment Management Inc. raised its stake in shares of Portman Ridge Finance by 2.6% in the third quarter. Punch & Associates Investment Management Inc. now owns 119,115 shares of the company's stock valued at $2,293,000 after acquiring an additional 3,074 shares during the last quarter. Kennedy Capital Management LLC bought a new position in shares of Portman Ridge Finance in the third quarter valued at approximately $1,441,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Portman Ridge Finance in the third quarter valued at approximately $239,000. 30.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PTMN has been the topic of several analyst reports. Oppenheimer reiterated a "market perform" rating and issued a $20.00 target price on shares of Portman Ridge Finance in a research note on Friday, March 15th. Keefe, Bruyette & Woods reduced their price objective on Portman Ridge Finance from $20.50 to $20.00 and set a "market perform" rating for the company in a report on Monday, March 18th.

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.