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. The fund typically invests $1 million to $20 million in its portfolio companies. It provides senior secured term loans from $2 million to $20 million maturing in five to seven years; second lien term loans from $5 million to $15 million maturing in six to eight years; senior unsecured loans $5 million to $23 million maturing in six to eight years; mezzanine loans from $5 million to $15 million maturing in seven to ten years; and equity investments from $1 to $5 million. The fund targets the companies with EBITDA between $5 million and $25 million. While investing in debt securities, it invests in those middle market firms with EBITDA between $10 million and $50 million and/or total debt between $25 million and $150 million. It invests in minority, and majority or control equity positions alongside its private equity sponsor partners.
Portman Ridge Finance Trading Up 0.5 %
Shares of NASDAQ:PTMN traded up $0.13 on Tuesday, hitting $24.13. 12,542 shares of the company's stock were exchanged, compared to its average volume of 39,931. The business's 50 day simple moving average is $23.33 and its two-hundred day simple moving average is $23.63. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.55 and a quick ratio of 2.55. The stock has a market capitalization of $234.40 million, a price-to-earnings ratio of 9.20 and a beta of 0.94. Portman Ridge Finance has a 12 month low of $21.33 and a 12 month high of $25.97.
Portman Ridge Finance (NASDAQ:PTMN - Get Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported $0.82 earnings per share for the quarter. The company had revenue of $16.94 million during the quarter. Portman Ridge Finance had a net margin of 28.00% and a return on equity of 15.19%. During the same quarter in the previous year, the business earned $1.10 EPS. Analysts anticipate that Portman Ridge Finance will post 2.81 EPS for the current fiscal year.
Portman Ridge Finance Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 7th. Investors of record on Tuesday, May 24th were issued a $0.63 dividend. The ex-dividend date was Monday, May 23rd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 10.44%. Portman Ridge Finance's payout ratio is 96.55%.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on PTMN. TheStreet raised shares of Portman Ridge Finance from a "c+" rating to a "b-" rating in a research report on Thursday, July 21st. Oppenheimer started coverage on Portman Ridge Finance in a report on Tuesday, July 5th. They issued a "market perform" rating and a $26.00 price target on the stock.