Keefe, Bruyette & Woods Cuts Portman Ridge Finance (NASDAQ:BCIC) Price Target to $7.50

Portman Ridge Finance (NASDAQ:BCIC) had its price objective cut by Keefe, Bruyette & Woods from $9.00 to $7.50 in a research note published on Monday,Benzinga reports. They currently have a market perform rating on the stock.

BCIC has been the topic of a number of other reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Portman Ridge Finance in a research report on Friday, May 22nd. Zacks Research upgraded Portman Ridge Finance from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $9.25.

Portman Ridge Finance Stock Performance

Shares of BCIC opened at $7.72 on Monday. Portman Ridge Finance has a fifty-two week low of $6.70 and a fifty-two week high of $13.50. The business has a 50-day simple moving average of $7.31. The stock has a market capitalization of $95.57 million, a PE ratio of -14.04 and a beta of 0.50. 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 Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Tuesday, December 15th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a c) annualized dividend and a yield of 14.0%. Portman Ridge Finance’s payout ratio is -196.36%.

Insider Activity at Portman Ridge Finance

In other news, Director Dean C. Kehler sold 15,000 shares of the company’s stock in a transaction that occurred 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 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 filing with the SEC, which is accessible through this link. Also, CEO Edward J. Goldthorpe purchased 13,738 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were purchased at an average price of $7.16 per share, for a total transaction of $98,364.08. Following the acquisition, the chief executive officer owned 99,878 shares of the company’s stock, valued at approximately $715,126.48. The trade was a 15.95% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Portman Ridge Finance

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 fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,468 shares of the company’s stock, valued at approximately $29,000. Institutional investors own 30.14% of the company’s stock.

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.