Trexquant Investment LP grew its stake in shares of Portman Ridge Finance Co. (NASDAQ:PTMN - Free Report) by 50.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 65,351 shares of the company's stock after buying an additional 21,859 shares during the quarter. Trexquant Investment LP owned approximately 0.71% of Portman Ridge Finance worth $1,068,000 as of its most recent SEC filing.
Separately, Raymond James Financial Inc. bought a new stake in shares of Portman Ridge Finance during the fourth quarter valued at approximately $1,702,000. 30.14% of the stock is currently owned by institutional investors.
Portman Ridge Finance Stock Performance
Shares of Portman Ridge Finance stock traded up $0.03 during trading hours on Wednesday, hitting $11.89. 4,416 shares of the company's stock traded hands, compared to its average volume of 44,827. The stock has a market capitalization of $109.32 million, a price-to-earnings ratio of 32.12 and a beta of 0.64. The company has a fifty day simple moving average of $15.47 and a 200-day simple moving average of $16.64. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.14 and a quick ratio of 3.14. Portman Ridge Finance Co. 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 released its earnings results on Thursday, March 13th. The company reported $0.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.68 by ($0.08). Portman Ridge Finance had a return on equity of 14.68% and a net margin of 5.47%. The firm had revenue of $14.40 million during the quarter, compared to analysts' expectations of $15.14 million. Equities research analysts anticipate that Portman Ridge Finance Co. will post 2.64 EPS for the current fiscal year.
Portman Ridge Finance Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 24th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, March 24th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 15.82%. Portman Ridge Finance's dividend payout ratio (DPR) is currently -293.75%.
Wall Street Analysts Forecast Growth
Separately, Keefe, Bruyette & Woods dropped their target price on Portman Ridge Finance from $16.00 to $14.00 and set a "market perform" rating on the stock in a report on Tuesday, April 8th.
View Our Latest Analysis on PTMN
About Portman Ridge Finance
(
Free Report)
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.
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