Portman Ridge Finance (NASDAQ:PTMN) Stock Price Up 1.2% - Still a Buy?

Key Points

• Shares rose 1.2% to about $8.12 on Monday with volume ~79,225 shares (up ~50% vs. average), but the stock remains below its 50-day ($9.38) and 200-day ($11.19) moving averages.
• Key fundamentals show a market cap of $107.1M, a negative P/E (-8.73), a debt-to-equity ratio of 1.54, and strong liquidity with quick/current ratios of 3.11.
• Institutional interest is growing: Bulldog Investors increased its stake by 112.4% to 460,007 shares and multiple other firms added positions, with institutions owning about 30.14% of the stock.

Portman Ridge Finance Corporation (NASDAQ:PTMN - Get Free Report)'s share price rose 1.2% on Monday . The company traded as high as $8.17 and last traded at $8.12. Approximately 79,225 shares traded hands during mid-day trading, an increase of 50% from the average daily volume of 52,829 shares. The stock had previously closed at $8.02.

Portman Ridge Finance Trading Up 1.2%

The company has a quick ratio of 3.11, a current ratio of 3.11 and a debt-to-equity ratio of 1.54. The firm has a market cap of $107.12 million, a price-to-earnings ratio of -8.73 and a beta of 0.60. The business's fifty day moving average is $9.38 and its two-hundred day moving average is $11.19.

Institutional Trading of Portman Ridge Finance

A number of institutional investors have recently bought and sold shares of the business. Bulldog Investors LLP grew its holdings in Portman Ridge Finance by 112.4% during the 3rd quarter. Bulldog Investors LLP now owns 460,007 shares of the company's stock worth $5,304,000 after acquiring an additional 243,461 shares during the period. Punch & Associates Investment Management Inc. acquired a new stake in Portman Ridge Finance during the 3rd quarter worth $4,210,000. Wealth Enhancement Advisory Services LLC grew its holdings in Portman Ridge Finance by 7.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 250,085 shares of the company's stock worth $2,999,000 after acquiring an additional 17,731 shares during the period. JB Capital Partners LP acquired a new stake in Portman Ridge Finance during the 3rd quarter worth $1,412,000. Finally, Founders Financial Alliance LLC grew its holdings in Portman Ridge Finance by 19.2% during the 3rd quarter. Founders Financial Alliance LLC now owns 84,055 shares of the company's stock worth $969,000 after acquiring an additional 13,551 shares during the period. Institutional investors and hedge funds own 30.14% of the company's stock.

Portman Ridge Finance Company Profile

Portman Ridge Finance NASDAQ: PTMN is a publicly traded, closed-end management investment company that has elected to be regulated as a Business Development Company (BDC) under the Investment Company Act of 1940. Since its formation in 2015, the firm has focused on providing customized financing solutions to U.S. middle-market companies, including senior secured loans, unitranche instruments, mezzanine debt and select equity co‐investments. Its flexible approach allows Portman Ridge to structure transactions that address a range of sponsor-backed and privately negotiated financing needs.

The company's portfolio spans a variety of industry sectors such as healthcare, business services, consumer goods and industrials.

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