Insider Buying: Portman Ridge Finance (NASDAQ:BCIC) Director Acquires $14,660.00 in Stock

Portman Ridge Finance Corp (NASDAQ:BCIC) Director Alexander Duka purchased 2,000 shares of the company’s stock in a transaction dated Friday, March 20th. The stock was acquired at an average price of $7.33 per share, with a total value of $14,660.00. Following the completion of the transaction, the director owned 3,000 shares of the company’s stock, valued at $21,990. This represents a 200.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Portman Ridge Finance Trading Down 1.7%

Shares of BCIC stock opened at $7.32 on Thursday. The company has a market capitalization of $90.69 million, a PE ratio of 12.84 and a beta of 0.39. Portman Ridge Finance Corp has a 1 year low of $7.11 and a 1 year high of $14.87. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 1.47. The company has a 50 day moving average of $10.65.

Portman Ridge Finance Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a yield of 14.8%. Portman Ridge Finance’s payout ratio is currently 224.56%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BCIC. Wall Street Zen raised Portman Ridge Finance from a “sell” rating to a “hold” rating in a report on Wednesday, March 18th. Zacks Research cut shares of Portman Ridge Finance from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 11th. Keefe, Bruyette & Woods reduced their price objective on shares of Portman Ridge Finance from $14.00 to $9.00 and set a “market perform” rating on the stock in a research note on Tuesday, March 10th. LADENBURG THALM/SH SH lowered shares of Portman Ridge Finance from a “buy” rating to a “neutral” rating in a report on Monday, March 9th. Finally, Weiss Ratings cut shares of Portman Ridge Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Portman Ridge Finance has a consensus rating of “Reduce” and a consensus price target of $9.00.

Institutional Trading of Portman Ridge Finance

A hedge fund recently bought a new stake in Portman Ridge Finance stock. Arlington Trust Co LLC purchased a new position in shares of Portman Ridge Finance Corp (NASDAQ:BCIC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,468 shares of the company’s stock, valued at approximately $29,000. 30.14% of the stock is 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.