Portman Ridge Finance (NASDAQ:BCIC) Trading Up 0.7% – What’s Next?

Portman Ridge Finance Corp (NASDAQ:BCIC) shares traded up 0.7% on Thursday . The stock traded as high as $7.48 and last traded at $7.39. 149,597 shares changed hands during trading, an increase of 262% from the average daily volume of 41,343 shares. The stock had previously closed at $7.34.

Analyst Ratings Changes

Several equities analysts recently issued reports on BCIC shares. Zacks Research upgraded shares of Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of Portman Ridge Finance in a research report on Friday, May 22nd. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $9.00.

Portman Ridge Finance Stock Up 0.7%

The company has a market capitalization of $91.49 million, a price-to-earnings ratio of -30.79 and a beta of 0.50. The stock has a 50 day simple moving average of $7.30. The company has a quick ratio of 4.43, a current ratio of 4.43 and a debt-to-equity ratio of 1.74.

Insider Activity

In other news, Director Dean C. Kehler sold 15,000 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $7.64, for a total transaction of $114,600.00. Following the transaction, the director owned 5,649 shares in the company, valued at approximately $43,158.36. This represents a 72.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Edward J. Goldthorpe acquired 13,738 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were bought at an average cost of $7.16 per share, for a total transaction of $98,364.08. Following the transaction, the chief executive officer directly owned 99,878 shares in the company, valued at approximately $715,126.48. This represents a 15.95% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Portman Ridge Finance

An institutional investor recently bought a new stake in Portman Ridge Finance stock. Arlington Trust Co LLC acquired a new stake in shares of Portman Ridge Finance Corp (NASDAQ:BCIC) in the 4th quarter, according to the company in 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. 30.14% of the stock is owned by institutional investors.

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.