Portman Ridge Finance Co. (NASDAQ:PTMN) Short Interest Down 18.6% in March

Portman Ridge Finance Co. (NASDAQ:PTMN - Get Free Report) saw a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 116,900 shares, a decline of 18.6% from the March 15th total of 143,700 shares. Based on an average trading volume of 46,500 shares, the short-interest ratio is currently 2.5 days. Approximately 1.3% of the company's shares are short sold.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods decreased their price target on Portman Ridge Finance from $16.00 to $14.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 8th.

Portman Ridge Finance Trading Down 0.3 %

NASDAQ:PTMN traded down $0.04 during midday trading on Friday, reaching $12.28. 39,898 shares of the stock traded hands, compared to its average volume of 46,086. The stock has a market capitalization of $112.91 million, a P/E ratio of 33.18 and a beta of 0.64. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.14 and a current ratio of 3.14. The company has a fifty day moving average of $14.74 and a 200 day moving average of $16.35. Portman Ridge Finance has a 12 month low of $11.60 and a 12 month high of $20.84.

Portman Ridge Finance (NASDAQ:PTMN - Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.08). The firm had revenue of $14.40 million for the quarter, compared to the consensus estimate of $15.14 million. Portman Ridge Finance had a net margin of 5.47% and a return on equity of 14.68%. On average, research analysts predict that Portman Ridge Finance will post 2.64 EPS for the current year.

Portman Ridge Finance Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 24th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 15.32%. The ex-dividend date of this dividend was Monday, March 24th. Portman Ridge Finance's dividend payout ratio (DPR) is currently -293.75%.

Institutional Investors Weigh In On Portman Ridge Finance

A number of large investors have recently made changes to their positions in PTMN. Ritholtz Wealth Management purchased a new stake in Portman Ridge Finance in the first quarter worth $152,000. Accordant Advisory Group Inc raised its holdings in Portman Ridge Finance by 3,000.0% in the 1st quarter. Accordant Advisory Group Inc now owns 15,500 shares of the company's stock worth $222,000 after purchasing an additional 15,000 shares in the last quarter. Virtus ETF Advisers LLC lifted its position in shares of Portman Ridge Finance by 25.3% in the 4th quarter. Virtus ETF Advisers LLC now owns 29,852 shares of the company's stock worth $488,000 after purchasing an additional 6,031 shares during the period. Founders Financial Alliance LLC boosted its stake in shares of Portman Ridge Finance by 6.3% during the 4th quarter. Founders Financial Alliance LLC now owns 62,217 shares of the company's stock valued at $1,017,000 after purchasing an additional 3,671 shares in the last quarter. Finally, Confluence Investment Management LLC boosted its stake in shares of Portman Ridge Finance by 6.1% during the 1st quarter. Confluence Investment Management LLC now owns 64,165 shares of the company's stock valued at $921,000 after purchasing an additional 3,693 shares in the last quarter. 30.14% of the stock is currently owned by 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, mezzanine, buyout in middle market companies. It also makes acquisitions in businesses complementary to the firm's business.