Portman Ridge Finance Corp to Issue Monthly Dividend of $0.09 (NASDAQ:BCIC)

Key Points

• Portman Ridge Finance (NASDAQ:BCIC) declared a monthly dividend of $0.09 per share, payable April 30 to holders of record April 15 (ex-dividend April 15), implying an annualized yield of about 13.6%.
• Shares opened at $7.97, trading in a 1‑year range of $7.11–$13.50 with a market cap near $98.8M, a PE of 13.98, and a 50‑day moving average of $9.80.
• An insider, Director Dean C. Kehler, sold 27,378 shares (part of 80,021 insider shares sold this quarter), cutting his stake by 32.16%; insiders own 2.11% and institutional investors own roughly 30.14% of the company.

Portman Ridge Finance Corp (NASDAQ:BCIC - ) announced a monthly dividend on Thursday, March 5th. Stockholders of record on Wednesday, April 15th will be paid a dividend of 0.09 per share on Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 13.6%. The ex-dividend date is Wednesday, April 15th.

Portman Ridge Finance Price Performance

NASDAQ BCIC opened at $7.97 on Monday. Portman Ridge Finance has a 1 year low of $7.11 and a 1 year high of $13.50. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 1.47. The stock has a market cap of $98.75 million, a PE ratio of 13.98 and a beta of 0.53. The business has a 50 day moving average price of $9.80.

Insiders Place Their Bets

In other Portman Ridge Finance news, Director Dean C. Kehler sold 27,378 shares of Portman Ridge Finance stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $7.60, for a total transaction of $208,072.80. Following the completion of the sale, the director owned 57,749 shares of the company's stock, valued at $438,892.40. The trade was a 32.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 80,021 shares of company stock worth $652,828 in the last quarter. Company insiders own 2.11% of the company's stock.

Hedge Funds Weigh In On Portman Ridge Finance

A hedge fund recently bought a new stake in Portman Ridge Finance stock. Arlington Trust Co LLC bought a new position in Portman Ridge Finance Corp (NASDAQ:BCIC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 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.

About Portman Ridge Finance

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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