Portman Ridge Finance (NASDAQ:BCIC) Upgraded at Wall Street Zen
by Michael Walen · The Markets DailyWall Street Zen upgraded shares of Portman Ridge Finance (NASDAQ:BCIC – Free Report) from a sell rating to a hold rating in a research note released on Wednesday.
BCIC has been the subject of a number of other research reports. Keefe, Bruyette & Woods lowered their price objective on shares of Portman Ridge Finance from $14.00 to $9.00 and set a “market perform” rating for the company in a research report on Tuesday, March 10th. LADENBURG THALM/SH SH cut shares of Portman Ridge Finance from a “buy” rating to a “neutral” rating in a research note on Monday, March 9th. Weiss Ratings downgraded Portman Ridge Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, February 23rd. Finally, Zacks Research downgraded shares of Portman Ridge Finance from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 11th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $9.00.
Check Out Our Latest Stock Report on BCIC
Portman Ridge Finance Trading Down 1.7%
NASDAQ BCIC opened at $7.34 on Wednesday. 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 stock has a market capitalization of $90.92 million, a P/E ratio of 12.88 and a beta of 0.39. Portman Ridge Finance has a 12 month low of $7.15 and a 12 month high of $15.69.
Portman Ridge Finance Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a yield of 14.7%. Portman Ridge Finance’s payout ratio is presently 189.47%.
Insider Buying and Selling
In related news, Director Dean C. Kehler sold 27,378 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $7.60, for a total value of $208,072.80. Following the completion of the transaction, the director owned 57,749 shares of the company’s stock, valued at $438,892.40. This represents a 32.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 80,021 shares of company stock valued at $652,828. 2.11% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Portman Ridge Finance
An institutional investor recently bought a new position in Portman Ridge Finance stock. Arlington Trust Co LLC acquired a new stake in Portman Ridge Finance Corp (NASDAQ:BCIC – Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 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.
About Portman Ridge Finance
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.