Portman Ridge Finance (NASDAQ:BCIC) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Portman Ridge Finance (NASDAQ:BCIC) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

Several other equities analysts have also recently issued reports on the company. Keefe, Bruyette & Woods lowered their price objective on Portman Ridge Finance from $14.00 to $9.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 10th. Weiss Ratings lowered Portman Ridge Finance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, February 23rd. LADENBURG THALM/SH SH cut Portman Ridge Finance from a “buy” rating to a “neutral” rating in a research note on Monday, March 9th. Finally, Zacks Research downgraded Portman Ridge Finance from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 11th. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $9.00.

Portman Ridge Finance Trading Down 3.0%

Shares of NASDAQ BCIC opened at $7.80 on Wednesday. Portman Ridge Finance has a 52-week low of $7.76 and a 52-week high of $15.77. The company has a debt-to-equity ratio of 1.47, a quick ratio of 2.52 and a current ratio of 2.52. The company has a market capitalization of $96.64 million, a PE ratio of 13.68 and a beta of 0.39.

Portman Ridge Finance Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.09 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 13.8%. The ex-dividend date is Monday, June 15th. Portman Ridge Finance’s dividend payout ratio (DPR) is 224.56%.

Insider Transactions at Portman Ridge Finance

In other news, Director Dean C. Kehler sold 16,200 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $8.84, for a total value of $143,208.00. Following the transaction, the director owned 111,216 shares in the company, valued at $983,149.44. This represents a 12.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 26,554 shares of company stock valued at $236,671 over the last 90 days. Company insiders own 2.11% of the company’s stock.

Institutional Investors Weigh In On Portman Ridge Finance

An institutional investor recently bought a new position in Portman Ridge Finance stock. Arlington Trust Co LLC acquired a new stake in Portman Ridge Finance Corp (NASDAQ:BCIC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 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.

Portman Ridge Finance Company Profile

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.