Key Points
- CEO purchase: Portman Ridge Finance CEO Edward Goldthorpe bought 13,738 shares at an average price of $7.16, a transaction worth about $98,364. The purchase lifted his holdings by 15.95% to 99,878 shares.
- Dividend update: The company announced a monthly dividend of $0.09 per share, payable on September 30 to shareholders of record on September 15. That implies an annualized yield of about 15.4%.
- Stock sentiment remains cautious: Analysts currently have an average rating of Reduce with a consensus target price of $9.00, while the stock recently traded near $7.00 and remains close to its 52-week low.
Portman Ridge Finance Corp (NASDAQ:BCIC - Get Free Report) CEO Edward Goldthorpe purchased 13,738 shares of the firm's stock in a transaction that occurred on Monday, June 22nd. The shares were acquired at an average price of $7.16 per share, with a total value of $98,364.08. Following the purchase, the chief executive officer owned 99,878 shares in the company, valued at $715,126.48. This trade represents a 15.95% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Portman Ridge Finance Stock Performance
Shares of Portman Ridge Finance stock opened at $7.00 on Thursday. The company has a debt-to-equity ratio of 1.74, a current ratio of 4.43 and a quick ratio of 4.43. The stock has a market cap of $86.66 million, a P/E ratio of -29.17 and a beta of 0.50. Portman Ridge Finance Corp has a 1 year low of $6.70 and a 1 year high of $13.50. The stock's fifty day simple moving average is $7.66.
Portman Ridge Finance Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.09 per share. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 15.4%. Portman Ridge Finance's dividend payout ratio is -450.00%.
Institutional Inflows and Outflows
An institutional investor recently bought a new stake in Portman Ridge Finance stock. Arlington Trust Co LLC bought a new stake in Portman Ridge Finance Corp (NASDAQ:BCIC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,468 shares of the company's stock, valued at approximately $29,000. Hedge funds and other institutional investors own 30.14% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on BCIC shares. Weiss Ratings restated a "sell (d+)" rating on shares of Portman Ridge Finance in a research report on Friday, May 22nd. Wall Street Zen raised Portman Ridge Finance from a "sell" rating to a "hold" rating in a research report on Wednesday, March 18th. Zacks Research upgraded Portman Ridge Finance from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 13th. LADENBURG THALM/SH SH downgraded Portman Ridge Finance from a "buy" rating to a "neutral" rating in a research note on Monday, March 9th. Finally, Keefe, Bruyette & Woods dropped their target price on Portman Ridge Finance from $14.00 to $9.00 and set a "market perform" rating on the stock in a report on Tuesday, March 10th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Portman Ridge Finance presently has an average rating of "Reduce" and a consensus target price of $9.00.
Get Our Latest 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.
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