Portman Ridge Finance (NASDAQ:BCIC) CEO Buys 13,738 Shares

Portman Ridge Finance Corp (NASDAQ:BCIC) CEO Edward Goldthorpe bought 13,738 shares of Portman Ridge Finance stock in a transaction dated Monday, June 22nd. The stock was purchased 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 approximately $715,126.48. This represents a 15.95% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Portman Ridge Finance Trading Down 0.7%

Shares of BCIC traded down $0.05 during trading hours on Wednesday, reaching $7.00. 84,526 shares of the stock traded hands, compared to its average volume of 92,928. Portman Ridge Finance Corp has a 52 week low of $6.70 and a 52 week high of $13.50. The stock has a market cap of $86.66 million, a P/E ratio of -29.17 and a beta of 0.50. The stock has a fifty day moving average price of $7.66. The company has a current ratio of 4.43, a quick ratio of 4.43 and a debt-to-equity ratio of 1.74.

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 $0.09 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 15.4%. The ex-dividend date is Tuesday, September 15th. Portman Ridge Finance’s payout ratio is presently -450.00%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Wall Street Zen raised Portman Ridge Finance from a “sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Weiss Ratings restated a “sell (d+)” rating on shares of Portman Ridge Finance in a research note on Friday, May 22nd. LADENBURG THALM/SH SH lowered Portman Ridge Finance from a “buy” rating to a “neutral” rating in a research report on Monday, March 9th. Keefe, Bruyette & Woods lowered their target price on Portman Ridge Finance from $14.00 to $9.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 10th. Finally, Zacks Research upgraded shares of Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 13th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Portman Ridge Finance presently has an average rating of “Reduce” and a consensus target price of $9.00.

Institutional Trading of Portman Ridge Finance

An institutional investor recently bought a new position in Portman Ridge Finance stock. Arlington Trust Co LLC purchased a new stake in shares of Portman Ridge Finance Corp (NASDAQ:BCIC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,468 shares of the company’s stock, valued at approximately $29,000. 30.14% of the stock is owned by hedge funds and other institutional investors.

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.