Key Points
- Director Dean Kehler sold 27,378 shares on March 19 at an average price of $7.60 for $208,072.80, reducing his ownership by 32.16% to 57,749 shares.
- Portman Ridge announced a monthly dividend of $0.09 per share (ex-dividend June 15, paid June 30), implying a 14.3% yield and an annualized dividend payout ratio of 224.56%.
- Several analyst downgrades have left the stock with an average rating of "Reduce" and a consensus price target of $9.00 after recent cuts.
Portman Ridge Finance Corp (NASDAQ:BCIC - Get Free Report) Director Dean Kehler sold 27,378 shares of the business's stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $7.60, for a total transaction of $208,072.80. Following the completion of the sale, the director owned 57,749 shares in the company, valued at $438,892.40. This represents a 32.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Portman Ridge Finance Price Performance
Shares of NASDAQ BCIC opened at $7.55 on Friday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 2.52 and a current ratio of 2.52. Portman Ridge Finance Corp has a 52 week low of $7.45 and a 52 week high of $15.69. The stock has a market capitalization of $93.56 million, a P/E ratio of 13.25 and a beta of 0.39.
Portman Ridge Finance Announces Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.09 per share. This represents a c) dividend on an annualized basis and a dividend yield of 14.3%. The ex-dividend date of this dividend is Monday, June 15th. Portman Ridge Finance's dividend payout ratio (DPR) is 224.56%.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Portman Ridge Finance stock. Arlington Trust Co LLC purchased a new stake in Portman Ridge Finance Corp (NASDAQ:BCIC - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 2,468 shares of the company's stock, valued at approximately $29,000. Institutional investors and hedge funds own 30.14% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on BCIC. Zacks Research lowered Portman Ridge Finance from a "hold" rating to a "strong sell" rating in a research note on Wednesday, March 11th. LADENBURG THALM/SH SH cut Portman Ridge Finance from a "buy" rating to a "neutral" rating in a report on Monday, March 9th. Keefe, Bruyette & Woods reduced their price objective on Portman Ridge Finance from $14.00 to $9.00 and set a "market perform" rating on the stock in a research report on Tuesday, March 10th. Weiss Ratings lowered Portman Ridge Finance from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, February 23rd. Finally, Wall Street Zen raised shares of Portman Ridge Finance from a "sell" rating to a "hold" rating in a research note on Wednesday. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $9.00.
Read Our Latest Research Report on Portman Ridge Finance
Portman Ridge Finance Company Profile
(
Get 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, 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.
Further Reading
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