Portman Ridge Finance Co. (NASDAQ:PTMN) Short Interest Update


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Portman Ridge Finance Co. (NASDAQ:PTMN) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 322,200 shares, an increase of 24.8% from the March 31st total of 258,200 shares. Based on an average trading volume of 466,000 shares, the short-interest ratio is currently 0.7 days.

A number of analysts have recently issued reports on PTMN shares. Zacks Investment Research upgraded shares of Portman Ridge Finance from a “hold” rating to a “buy” rating and set a $2.25 target price for the company in a research note on Tuesday, January 5th. TheStreet upgraded shares of Portman Ridge Finance from a “c-” rating to a “b-” rating in a research note on Monday, April 5th.

Institutional investors and hedge funds have recently made changes to their positions in the company. Blair William & Co. IL bought a new position in shares of Portman Ridge Finance in the 4th quarter valued at $29,000. Acorn Financial Advisory Services Inc. ADV bought a new position in shares of Portman Ridge Finance in the 4th quarter valued at $30,000. Calton & Associates Inc. bought a new position in shares of Portman Ridge Finance in the 1st quarter valued at $41,000. Hillsdale Investment Management Inc. bought a new position in shares of Portman Ridge Finance in the 1st quarter valued at $66,000. Finally, International Assets Investment Management LLC bought a new position in shares of Portman Ridge Finance in the 4th quarter valued at $72,000. Institutional investors own 12.78% of the company’s stock.

Shares of NASDAQ:PTMN traded down $0.04 during midday trading on Tuesday, hitting $2.37. The stock had a trading volume of 254,612 shares, compared to its average volume of 425,444. The company’s 50-day moving average price is $2.27 and its 200-day moving average price is $1.88. The company has a market capitalization of $178.21 million, a P/E ratio of -8.17 and a beta of 1.34. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 1.34. Portman Ridge Finance has a fifty-two week low of $0.99 and a fifty-two week high of $2.45.

Portman Ridge Finance (NASDAQ:PTMN) last issued its earnings results on Thursday, March 11th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. Portman Ridge Finance had a negative net margin of 47.13% and a positive return on equity of 7.87%. Research analysts expect that Portman Ridge Finance will post 0.24 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 2nd. Stockholders of record on Monday, February 22nd were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 10.13%. The ex-dividend date was Friday, February 19th. Portman Ridge Finance’s payout ratio is 300.00%.

About Portman Ridge Finance

Portman Ridge Finance Corp. operates as a non-diversified management investment company. The firm targets companies operating in the fields of aerospace/ defense, business services, consumer products, education, food & beverage, healthcare, industrial & environmental services, logistic & distribution and media & telecommunications.

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