Portman Ridge Finance Corp (NASDAQ:PTMN) shares traded down 0.9% during trading on Friday . The company traded as low as $1.04 and last traded at $1.05, 74,529 shares changed hands during trading. A decline of 60% from the average session volume of 186,024 shares. The stock had previously closed at $1.06.
A number of research firms have commented on PTMN. ValuEngine upgraded shares of Portman Ridge Finance from a “strong sell” rating to a “sell” rating in a research report on Friday, May 1st. Zacks Investment Research raised Portman Ridge Finance from a “sell” rating to a “hold” rating in a research note on Wednesday, July 8th.
The stock has a market capitalization of $46.96 million, a PE ratio of -1.54 and a beta of 1.31. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a 50 day moving average of $1.14 and a 200-day moving average of $1.45.
Portman Ridge Finance (NASDAQ:PTMN) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Portman Ridge Finance had a negative net margin of 107.68% and a positive return on equity of 5.90%. The business had revenue of $7.75 million during the quarter. On average, sell-side analysts predict that Portman Ridge Finance Corp will post 0.19 earnings per share for the current year.
Several large investors have recently modified their holdings of PTMN. Creative Planning increased its holdings in shares of Portman Ridge Finance by 28.5% during the 1st quarter. Creative Planning now owns 43,995 shares of the company’s stock valued at $41,000 after acquiring an additional 9,757 shares during the last quarter. Marquette Asset Management LLC bought a new stake in Portman Ridge Finance during the first quarter worth approximately $45,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in Portman Ridge Finance by 834.0% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 51,370 shares of the company’s stock valued at $130,000 after purchasing an additional 45,870 shares during the last quarter. Advisor Group Holdings Inc. bought a new position in shares of Portman Ridge Finance in the first quarter valued at approximately $73,000. Finally, Eidelman Virant Capital acquired a new stake in shares of Portman Ridge Finance in the second quarter worth $114,000. 21.77% of the stock is owned by institutional investors.
About Portman Ridge Finance (NASDAQ:PTMN)
Portman Ridge Finance Corp. is a private equity fund and non-diversified closed-end investment company that invests in middle market companies generating consistent cash flows located in North America. It targets companies operating across a broad range of sectors such as aerospace and defense, automotive, beverage, food and tobacco, broadcasting and entertainment, buildings and real estate, personal and cargo transport, chemicals, plastics and rubber, containers, packaging and glass, diversified or conglomerate service, ecological, electronics, finance, and healthcare.
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