Key Points
- Director Dean Kehler sold 15,000 shares of Portman Ridge Finance (NASDAQ:BCIC) on May 18 at an average price of $7.64, trimming his holdings by about 72.6% to 5,649 shares.
- The company recently declared a monthly dividend of $0.09 per share, payable September 30 to shareholders of record on September 15, implying an annualized yield of 14.3%.
- Analysts remain cautious on the stock, with an average rating of “Reduce” and a consensus price target of $9.00, while institutional ownership stands at about 30.14%.
Portman Ridge Finance Corp (NASDAQ:BCIC - Get Free Report) Director Dean Kehler sold 15,000 shares of the firm's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $7.64, for a total value of $114,600.00. Following the completion of the transaction, the director directly owned 5,649 shares of the company's stock, valued at $43,158.36. The trade was a 72.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Portman Ridge Finance Price Performance
Portman Ridge Finance stock opened at $7.53 on Wednesday. Portman Ridge Finance Corp has a one year low of $7.11 and a one year high of $13.50. The stock has a fifty day moving average of $7.88. The company has a quick ratio of 4.43, a current ratio of 4.43 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $93.22 million, a price-to-earnings ratio of -31.37 and a beta of 0.51.
Portman Ridge Finance Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a $0.09 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 14.3%. The ex-dividend date of this dividend is Tuesday, September 15th. Portman Ridge Finance's dividend payout ratio (DPR) is presently -450.00%.
Analyst Ratings Changes
A number of equities analysts have recently commented on BCIC shares. LADENBURG THALM/SH SH lowered Portman Ridge Finance from a "buy" rating to a "neutral" rating in a report on Monday, March 9th. Keefe, Bruyette & Woods cut their price target on 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. Weiss Ratings lowered Portman Ridge Finance from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, February 23rd. Zacks Research raised Portman Ridge Finance from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen raised Portman Ridge Finance from a "sell" rating to a "hold" rating in a research note on Wednesday, March 18th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Portman Ridge Finance currently has an average rating of "Reduce" and an average price target of $9.00.
View Our Latest Analysis on Portman Ridge Finance
Institutional Investors Weigh In On Portman Ridge Finance
A hedge fund recently bought a new stake in Portman Ridge Finance stock. Arlington Trust Co LLC acquired a new stake in shares of Portman Ridge Finance Corp (NASDAQ:BCIC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,468 shares of the company's stock, valued at approximately $29,000. Institutional investors own 30.14% of the company's stock.
About Portman Ridge Finance
(
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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