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

Portman Ridge Finance Corp (NASDAQ:BCIC) declared a monthly dividend on Thursday, August 6th. Investors of record on Monday, November 23rd will be given 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 of this dividend is Monday, November 23rd.

Portman Ridge Finance Stock Up 1.6%

Shares of BCIC traded up $0.12 during mid-day trading on Friday, hitting $7.51. 104,791 shares of the company’s stock were exchanged, compared to its average volume of 84,502. Portman Ridge Finance has a 52 week low of $6.70 and a 52 week high of $13.50. The stock has a 50-day moving average of $7.30. The stock has a market capitalization of $92.97 million, a price-to-earnings ratio of -31.16 and a beta of 0.50. The company has a debt-to-equity ratio of 1.74, a quick ratio of 4.43 and a current ratio of 4.43.

Analyst Ratings Changes

BCIC has been the subject of a number of research analyst reports. Zacks Research raised Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Portman Ridge Finance in a research note on Friday, May 22nd. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $9.00.

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.