Portman Ridge Finance (NASDAQ:PTMN) Shares Down 0.9%

Portman Ridge Finance Corp (NASDAQ:PTMN) shares were down 0.9% during trading on Friday . The company traded as low as $1.04 and last traded at $1.05, approximately 74,529 shares traded hands during mid-day trading. A decline of 60% from the average daily volume of 186,024 shares. The stock had previously closed at $1.06.

A number of equities research analysts have recently weighed in on PTMN shares. ValuEngine upgraded Portman Ridge Finance from a “strong sell” rating to a “sell” rating in a research report on Friday, May 1st. Zacks Investment Research upgraded shares of Portman Ridge Finance from a “sell” rating to a “hold” rating in a research report on Wednesday, July 8th.

The business’s 50 day simple moving average is $1.14 and its 200-day simple moving average is $1.45. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market capitalization of $46.96 million, a P/E ratio of -1.54 and a beta of 1.31.

Portman Ridge Finance (NASDAQ:PTMN) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.01. Portman Ridge Finance had a positive return on equity of 5.90% and a negative net margin of 107.68%. The company had revenue of $7.75 million for the quarter. Research analysts anticipate that Portman Ridge Finance Corp will post 0.19 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. UBS Group AG increased its holdings in Portman Ridge Finance by 10.1% during the fourth quarter. UBS Group AG now owns 708,581 shares of the company’s stock worth $1,502,000 after buying an additional 64,888 shares during the last quarter. Deltec Asset Management LLC lifted its position in shares of Portman Ridge Finance by 39.3% during the 1st quarter. Deltec Asset Management LLC now owns 220,140 shares of the company’s stock valued at $206,000 after acquiring an additional 62,098 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Portman Ridge Finance by 834.0% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 51,370 shares of the company’s stock worth $130,000 after purchasing an additional 45,870 shares in the last quarter. Advisor Group Holdings Inc. bought a new position in shares of Portman Ridge Finance in the first quarter worth $73,000. Finally, Creative Planning lifted its position in Portman Ridge Finance by 28.5% during the first quarter. Creative Planning now owns 43,995 shares of the company’s stock worth $41,000 after purchasing an additional 9,757 shares during the period. Hedge funds and other institutional investors own 21.77% of the company’s stock.

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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