Zacks: Brokerages Set $2.75 Price Target for Portman Ridge Finance Corp (NASDAQ:PTMN)

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Portman Ridge Finance Corp (NASDAQ:PTMN) has been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating. Portman Ridge Finance’s rating score has improved by 66.7% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.

Brokers have set a one year consensus price objective of $2.75 for the company, according to Zacks. Zacks has also given Portman Ridge Finance an industry rank of 85 out of 255 based on the ratings given to its competitors.

Several research firms have recently commented on PTMN. ValuEngine raised Portman Ridge Finance from a “hold” rating to a “buy” rating in a report on Wednesday. Zacks Investment Research downgraded Portman Ridge Finance from a “hold” rating to a “sell” rating in a report on Tuesday, October 8th. Finally, LADENBURG THALM/SH SH upgraded Portman Ridge Finance from a “neutral” rating to a “buy” rating in a research report on Friday, November 8th.

Shares of NASDAQ PTMN opened at $2.06 on Friday. The firm’s 50-day simple moving average is $2.23 and its 200 day simple moving average is $2.43. The company has a market cap of $84.46 million, a price-to-earnings ratio of 7.63 and a beta of 0.72. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.95. Portman Ridge Finance has a 12-month low of $2.04 and a 12-month high of $3.80.

Portman Ridge Finance (NASDAQ:PTMN) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Portman Ridge Finance had a negative net margin of 108.42% and a positive return on equity of 2.08%. The company had revenue of $7.08 million during the quarter. On average, equities analysts expect that Portman Ridge Finance will post 0.17 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 11.65%. The ex-dividend date of this dividend is Thursday, November 14th. Portman Ridge Finance’s payout ratio is 88.89%.

Several institutional investors have recently bought and sold shares of PTMN. LPL Financial LLC bought a new stake in Portman Ridge Finance in the second quarter worth approximately $30,000. JPMorgan Chase & Co. bought a new stake in Portman Ridge Finance in the second quarter worth approximately $30,000. HighTower Advisors LLC bought a new stake in Portman Ridge Finance in the second quarter worth approximately $34,000. Ladenburg Thalmann Financial Services Inc. bought a new stake in Portman Ridge Finance in the second quarter worth approximately $35,000. Finally, Citadel Advisors LLC bought a new stake in Portman Ridge Finance in the second quarter worth approximately $43,000. 26.76% of the stock is currently owned by institutional investors.

About Portman Ridge Finance

Portman Ridge Finance Corp. is a private equity fund and non-diversified closed-end investment company that invests in middle market companies generating consistent cash flows located in North America. It targets companies operating across a broad range of sectors such as aerospace and defense, automotive, beverage, food and tobacco, broadcasting and entertainment, buildings and real estate, personal and cargo transport, chemicals, plastics and rubber, containers, packaging and glass, diversified or conglomerate service, ecological, electronics, finance, and healthcare.

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