Portman Ridge Finance (NASDAQ:BCIC) Trading 1.8% Higher - Should You Buy?

Key Points

• Portman Ridge Finance (NASDAQ:BCIC) rose 1.8% on Wednesday, trading as high as $7.44, though volume was below average at about 36,001 shares.
• Recent analyst sentiment remains cautious: the stock carries a consensus “Reduce” rating with a $9.00 target price, while recent updates included one sell rating and multiple hold ratings.
• The company announced a monthly dividend of $0.09 payable Sept. 30, implying a 14.5% annualized yield; insider activity was mixed, with a director selling shares and the CEO buying shares.

Portman Ridge Finance Corp (NASDAQ:BCIC - Get Free Report) shares shot up 1.8% on Wednesday . The stock traded as high as $7.44 and last traded at $7.43. Approximately 36,001 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 58,331 shares. The stock had previously closed at $7.30.

Analyst Upgrades and Downgrades

BCIC has been the topic of several recent research reports. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Portman Ridge Finance in a report on Friday, May 22nd. Wall Street Zen upgraded shares of Portman Ridge Finance from a "sell" rating to a "hold" rating in a research note on Wednesday, March 18th. Finally, Zacks Research raised shares of Portman Ridge Finance from a "strong sell" rating to a "hold" rating in a research report on Wednesday, May 13th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Portman Ridge Finance has a consensus rating of "Reduce" and a consensus target price of $9.00.

Portman Ridge Finance Price Performance

The company has a market capitalization of $91.98 million, a PE ratio of -30.96 and a beta of 0.49. The company has a debt-to-equity ratio of 1.74, a current ratio of 4.43 and a quick ratio of 4.43. The company has a fifty day simple moving average of $7.47.

Portman Ridge Finance Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a $0.09 dividend. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 14.5%. Portman Ridge Finance's dividend payout ratio (DPR) is currently -450.00%.

Insider Activity

In other Portman Ridge Finance news, Director Dean C. Kehler sold 15,000 shares of Portman Ridge Finance stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $7.64, for a total transaction of $114,600.00. Following the completion of the transaction, the director owned 5,649 shares of the company's stock, valued at $43,158.36. The trade was a 72.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Edward J. Goldthorpe purchased 13,738 shares of the firm's stock in a transaction dated Monday, June 22nd. The shares were bought at an average price of $7.16 per share, for a total transaction of $98,364.08. Following the completion of the transaction, the chief executive officer owned 99,878 shares of the company's stock, valued at approximately $715,126.48. This trade represents a 15.95% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Portman Ridge Finance

An institutional investor recently bought a new position in Portman Ridge Finance stock. Arlington Trust Co LLC bought a new position in shares of Portman Ridge Finance Corp (NASDAQ:BCIC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,468 shares of the company's stock, valued at approximately $29,000. Institutional investors own 30.14% of the company's stock.

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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