Key Points
- Director Alexander Duka bought 2,000 shares of Portman Ridge Finance (NASDAQ:BCIC) on March 20 at an average price of $7.33, a $14,660 purchase that increased his holding to 3,000 shares (a 200% position increase).
- The company declared a monthly dividend of $0.09 per share (ex-dividend June 15), implying a 15.0% yield, though the dividend payout ratio is an elevated 189.47%, suggesting potential sustainability concerns.
- Analyst sentiment has weakened with multiple downgrades and a MarketBeat consensus rating of "Reduce" and a $9.00 average target price, reflecting cautious institutional views despite some recent stake purchases by a hedge fund.
Portman Ridge Finance Corp (NASDAQ:BCIC - Get Free Report) Director Alexander Duka bought 2,000 shares of the business's stock in a transaction dated Friday, March 20th. The stock was bought at an average cost of $7.33 per share, for a total transaction of $14,660.00. Following the completion of the purchase, the director owned 3,000 shares of the company's stock, valued at approximately $21,990. The trade was a 200.00% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.
Portman Ridge Finance Stock Performance
Shares of NASDAQ:BCIC opened at $7.22 on Tuesday. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 1.47. The firm has a market cap of $89.43 million, a PE ratio of 12.67 and a beta of 0.39. Portman Ridge Finance Corp has a 1-year low of $7.15 and a 1-year high of $15.06.
Portman Ridge Finance Dividend Announcement
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.09 per share. This represents a c) annualized dividend and a yield of 15.0%. The ex-dividend date of this dividend is Monday, June 15th. Portman Ridge Finance's dividend payout ratio is 189.47%.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on BCIC. Keefe, Bruyette & Woods decreased their target price on shares of Portman Ridge Finance from $14.00 to $9.00 and set a "market perform" rating for the company in a report on Tuesday, March 10th. Zacks Research cut shares of Portman Ridge Finance from a "hold" rating to a "strong sell" rating in a report on Wednesday, March 11th. LADENBURG THALM/SH SH downgraded shares of Portman Ridge Finance from a "buy" rating to a "neutral" rating in a research report on Monday, March 9th. Wall Street Zen upgraded shares of Portman Ridge Finance from a "sell" rating to a "hold" rating in a report on Wednesday, March 18th. Finally, Weiss Ratings downgraded Portman Ridge Finance from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, February 23rd. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus target price of $9.00.
Check Out Our Latest Stock Analysis on Portman Ridge Finance
Hedge Funds Weigh In On Portman Ridge Finance
A hedge fund recently bought a new stake in Portman Ridge Finance stock. Arlington Trust Co LLC purchased a new stake in shares of Portman Ridge Finance Corp (NASDAQ:BCIC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,468 shares of the company's stock, valued at approximately $29,000. Institutional investors own 30.14% of the company's stock.
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.
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