Portman Ridge Finance (NASDAQ:BCIC) Director Sells $114,600.00 in Stock

by · The Cerbat Gem

Portman Ridge Finance Corp (NASDAQ:BCIC – Get Free Report) Director Dean Kehler sold 15,000 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $7.64, for a total value of $114,600.00. Following the completion of the sale, the director owned 5,649 shares of the company’s stock, valued at approximately $43,158.36. This trade represents a 72.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Portman Ridge Finance Price Performance

Shares of NASDAQ:BCIC traded up $0.01 during midday trading on Tuesday, reaching $7.63. The company’s stock had a trading volume of 28,788 shares, compared to its average volume of 98,279. Portman Ridge Finance Corp has a fifty-two week low of $7.11 and a fifty-two week high of $13.50. The company has a market capitalization of $94.46 million, a P/E ratio of -31.79 and a beta of 0.51. The company has a quick ratio of 4.43, a current ratio of 4.43 and a debt-to-equity ratio of 1.74. The stock’s fifty day simple moving average is $7.93.

Portman Ridge Finance Announces Dividend

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. The ex-dividend date is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 14.2%. Portman Ridge Finance’s dividend payout ratio (DPR) is -450.00%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BCIC. Keefe, Bruyette & Woods lowered their target price on Portman Ridge Finance from $14.00 to $9.00 and set a “market perform” rating for the company in a research note on Tuesday, March 10th. Wall Street Zen upgraded Portman Ridge Finance from a “sell” rating to a “hold” rating in a research note on Wednesday, March 18th. Weiss Ratings lowered Portman Ridge Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 23rd. Zacks Research upgraded Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 13th. Finally, LADENBURG THALM/SH SH cut Portman Ridge Finance from a “buy” rating to a “neutral” rating in a report on Monday, March 9th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $9.00.

Check Out Our Latest Stock Analysis on Portman Ridge Finance

Hedge Funds Weigh In On Portman Ridge Finance

A hedge fund recently bought a new stake in Portman Ridge Finance stock. Arlington Trust Co LLC purchased a new stake in Portman Ridge Finance Corp (NASDAQ:BCIC – Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,468 shares of the company’s stock, valued at approximately $29,000. Institutional investors and hedge funds own 30.14% of the company’s stock.

About Portman Ridge Finance

(Get Free Report)

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.

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