Portman Ridge Finance (NASDAQ:BCIC) Trading Up 0.7% - What's Next?

Key Points

• Portman Ridge Finance shares rose 0.7% to $7.39 in mid-day trading, with volume reaching roughly 149,600 shares—262% above the average session volume.
• Analyst sentiment remains cautious: three analysts rate BCIC a Hold and one rates it Sell, resulting in a consensus “Reduce” rating and a $9.00 price target.
• Insider activity was mixed, with a director selling 15,000 shares while CEO Edward Goldthorpe purchased 13,738 shares; institutional investors own 30.14% of the company.

Shares of Portman Ridge Finance Corp (NASDAQ:BCIC - Get Free Report) rose 0.7% on Thursday . The company traded as high as $7.48 and last traded at $7.39. Approximately 149,597 shares changed hands during mid-day trading, an increase of 262% from the average session volume of 41,343 shares. The stock had previously closed at $7.34.

Wall Street Analyst Weigh In

BCIC has been the subject of several recent analyst reports. Weiss Ratings restated a "sell (d+)" rating on shares of Portman Ridge Finance in a research report on Friday, May 22nd. Zacks Research upgraded Portman Ridge Finance from a "strong sell" rating to a "hold" rating in a research report on Wednesday, May 13th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Portman Ridge Finance has an average rating of "Reduce" and a consensus price target of $9.00.

Portman Ridge Finance Price Performance

The company has a market cap of $91.49 million, a price-to-earnings ratio of -30.79 and a beta of 0.50. The stock's fifty day simple moving average is $7.30. The company has a debt-to-equity ratio of 1.74, a current ratio of 4.43 and a quick ratio of 4.43.

Insider Transactions at Portman Ridge Finance

In other news, Director Dean C. Kehler sold 15,000 shares of the firm's 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 directly owned 5,649 shares in the company, valued at $43,158.36. This trade represents a 72.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Edward J. Goldthorpe acquired 13,738 shares of the business's stock in a transaction that occurred on Monday, June 22nd. The stock was bought at an average cost of $7.16 per share, for a total transaction of $98,364.08. Following the completion of the purchase, the chief executive officer owned 99,878 shares of the company's stock, valued at $715,126.48. This trade represents a 15.95% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 1.30% of the company's stock.

Institutional Trading of Portman Ridge Finance

A hedge fund recently bought a new position in Portman Ridge Finance stock. Arlington Trust Co LLC purchased a new position in shares of Portman Ridge Finance Corp (NASDAQ:BCIC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,468 shares of the company's stock, valued at approximately $29,000. 30.14% of the stock is owned by hedge funds and other institutional investors.

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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