Zacks Investment Research Upgrades Portman Ridge Finance (NASDAQ:PTMN) to “Hold”

Portman Ridge Finance (NASDAQ:PTMN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, reports.

According to Zacks, “Portman Ridge Finance Corporation is an investment company. It focuses on investment in consumer products, food and beverages, heathcare, logistics and distribution, media, telecommunication, education, aerospace and defense, industrial and environmental industries. Portman Ridge Finance Corporation, formerly known as KCAP Financial Inc., is based in New York, United States. “

Separately, TheStreet lowered shares of Portman Ridge Finance from a “b-” rating to a “c+” rating in a research note on Thursday, April 4th.

Shares of PTMN stock opened at $2.60 on Tuesday. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.85. The stock has a market cap of $95.63 million, a price-to-earnings ratio of 9.63 and a beta of 0.94. Portman Ridge Finance has a 1-year low of $2.50 and a 1-year high of $3.80.

Portman Ridge Finance (NASDAQ:PTMN) last announced its earnings results on Friday, May 10th. The company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.13). The company had revenue of $5.80 million for the quarter. Portman Ridge Finance had a positive return on equity of 3.28% and a negative net margin of 88.64%. Equities research analysts anticipate that Portman Ridge Finance will post 0.21 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in Portman Ridge Finance stock. Almitas Capital LLC bought a new position in shares of Portman Ridge Finance Corp (NASDAQ:PTMN) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 19,408 shares of the company’s stock, valued at approximately $70,000. Almitas Capital LLC owned 0.05% of Portman Ridge Finance at the end of the most recent reporting period. 22.02% of the stock is currently owned by institutional investors.

About Portman Ridge Finance

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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