Portman Ridge Finance Corp (NASDAQ:BCIC) Plans Monthly Dividend of $0.09

Portman Ridge Finance Corp (NASDAQ:BCIC) announced a monthly dividend on Thursday, August 6th. Stockholders of record on Monday, November 23rd will be paid a dividend of 0.09 per share on Friday, December 4th. This represents a c) annualized dividend and a dividend yield of 14.4%. The ex-dividend date is Monday, November 23rd.

Portman Ridge Finance Stock Performance

NASDAQ BCIC traded up $0.12 on Friday, hitting $7.51. 104,791 shares of the stock traded hands, compared to its average volume of 84,502. The company has a debt-to-equity ratio of 1.74, a current ratio of 4.43 and a quick ratio of 4.43. The stock’s fifty day simple moving average is $7.30. Portman Ridge Finance has a 12 month low of $6.70 and a 12 month high of $13.50. The company has a market cap of $92.97 million, a price-to-earnings ratio of -31.16 and a beta of 0.50.

Insider Transactions at Portman Ridge Finance

In related news, CEO Edward J. Goldthorpe bought 13,738 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were acquired at an average cost of $7.16 per share, with a total value of $98,364.08. Following the completion of the purchase, the chief executive officer directly owned 99,878 shares of the company’s stock, valued at $715,126.48. This trade represents a 15.95% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Dean C. Kehler sold 15,000 shares of Portman Ridge Finance stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $7.64, for a total transaction of $114,600.00. Following the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

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

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.