Insider Selling: Portman Ridge Finance (NASDAQ:BCIC) Director Sells $114,600.00 in Stock

Portman Ridge Finance Corp (NASDAQ:BCIC) Director Dean Kehler sold 15,000 shares of Portman Ridge Finance stock in a transaction on Monday, May 18th. The shares were sold at an average price of $7.64, for a total value of $114,600.00. Following the completion of the transaction, the director owned 5,649 shares of the company’s stock, valued at approximately $43,158.36. The trade was a 72.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Portman Ridge Finance Stock Performance

Shares of BCIC opened at $7.62 on Friday. The company has a fifty day simple moving average of $7.82. The company has a current ratio of 4.43, a quick ratio of 4.43 and a debt-to-equity ratio of 1.74. Portman Ridge Finance Corp has a 52-week low of $7.11 and a 52-week high of $13.50. The company has a market cap of $94.34 million, a P/E ratio of -31.75 and a beta of 0.51.

Portman Ridge Finance Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.09 dividend. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 14.2%. Portman Ridge Finance’s payout ratio is presently -450.00%.

Hedge Funds Weigh In On Portman Ridge Finance

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Weiss Ratings downgraded Portman Ridge Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, February 23rd. LADENBURG THALM/SH SH downgraded Portman Ridge Finance from a “buy” rating to a “neutral” rating in a research report on Monday, March 9th. Keefe, Bruyette & Woods cut their price objective on Portman Ridge Finance from $14.00 to $9.00 and set a “market perform” rating for the company in a research report on Tuesday, March 10th. Wall Street Zen upgraded Portman Ridge Finance from a “sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Finally, Zacks Research upgraded Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 13th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $9.00.

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.