Portman Ridge Finance (NASDAQ:BCIC) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Portman Ridge Finance (NASDAQ:BCIC) from a buy rating to a sell rating in a research report released on Tuesday.

Other research analysts also recently issued research reports about the stock. LADENBURG THALM/SH SH downgraded shares of Portman Ridge Finance from a “buy” rating to a “neutral” rating in a report on Monday. Weiss Ratings downgraded Portman Ridge Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, February 23rd. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $9.00.

Portman Ridge Finance Price Performance

Shares of NASDAQ:BCIC opened at $8.53 on Tuesday. Portman Ridge Finance has a 52 week low of $8.53 and a 52 week high of $16.91. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.52 and a quick ratio of 2.52. The firm has a market capitalization of $105.69 million, a price-to-earnings ratio of 14.97 and a beta of 0.39.

Portman Ridge Finance Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 12.7%. Portman Ridge Finance’s payout ratio is 329.82%.

Hedge Funds Weigh In On Portman Ridge Finance

An institutional investor recently bought a new position in Portman Ridge Finance stock. Arlington Trust Co LLC purchased a new position in shares of Portman Ridge Finance Corp (NASDAQ:BCIC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,468 shares of the company’s stock, valued at approximately $29,000. 30.14% of the stock is currently owned by hedge funds and other institutional investors.

About Portman Ridge Finance

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.