Portman Ridge Finance (NASDAQ:BCIC) Director Sells $208,072.80 in Stock

Portman Ridge Finance Corp (NASDAQ:BCIC) Director Dean Kehler sold 27,378 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $7.60, for a total value of $208,072.80. Following the sale, the director directly owned 57,749 shares of the company’s stock, valued at approximately $438,892.40. This trade represents a 32.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Portman Ridge Finance Stock Performance

Shares of Portman Ridge Finance stock traded down $0.33 during trading hours on Thursday, hitting $7.47. The company’s stock had a trading volume of 216,619 shares, compared to its average volume of 128,314. Portman Ridge Finance Corp has a twelve month low of $7.45 and a twelve month high of $15.69. The firm has a market cap of $92.55 million, a PE ratio of 3.50 and a beta of 0.39. The company has a quick ratio of 2.52, a current ratio of 2.52 and a debt-to-equity ratio of 1.47.

Portman Ridge Finance Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.09 dividend. This represents a c) annualized dividend and a yield of 14.5%. The ex-dividend date is Monday, June 15th. Portman Ridge Finance’s payout ratio is 224.56%.

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 position in shares of Portman Ridge Finance Corp (NASDAQ:BCIC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BCIC shares. Weiss Ratings lowered shares of Portman Ridge Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 23rd. Keefe, Bruyette & Woods decreased their price objective on shares of 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. LADENBURG THALM/SH SH cut shares of Portman Ridge Finance from a “buy” rating to a “neutral” rating in a research report on Monday, March 9th. Zacks Research downgraded shares of Portman Ridge Finance from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 11th. Finally, Wall Street Zen raised Portman Ridge Finance from a “sell” rating to a “hold” rating in a research report 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. Based on data from MarketBeat, Portman Ridge Finance currently has a consensus rating of “Reduce” and a consensus price target of $9.00.

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.