Portman Ridge Finance Corp (NASDAQ:BCIC) Given Consensus Rating of “Reduce” by Brokerages

Shares of Portman Ridge Finance Corp (NASDAQ:BCIC) have received a consensus recommendation of “Reduce” from the five analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $9.25.

Several research firms have commented on BCIC. Keefe, Bruyette & Woods decreased their target price on shares of Portman Ridge Finance from $9.00 to $7.50 and set a “market perform” rating for the company in a research report on Monday, August 10th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Portman Ridge Finance in a research report on Wednesday, August 19th. Finally, Oppenheimer decreased their price objective on Portman Ridge Finance from $12.00 to $11.00 and set a “market perform” rating for the company in a report on Monday, August 10th.

Portman Ridge Finance Stock Down 0.1%

Portman Ridge Finance stock opened at $7.09 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.45 and a current ratio of 1.45. Portman Ridge Finance has a one year low of $6.70 and a one year high of $13.50. The company has a 50-day simple moving average of $7.41 and a 200-day simple moving average of $7.84. The firm has a market capitalization of $87.77 million, a P/E ratio of -12.89 and a beta of 0.50.

Portman Ridge Finance Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Tuesday, December 15th will be given a dividend of $0.09 per share. This represents a c) dividend on an annualized basis and a yield of 15.2%. The ex-dividend date is Tuesday, December 15th. Portman Ridge Finance’s payout ratio is -196.36%.

Insider Activity

In other Portman Ridge Finance news, CEO Edward J. Goldthorpe purchased 13,738 shares of the stock in a transaction dated Monday, June 22nd. The shares were bought at an average cost of $7.16 per share, with a total value of $98,364.08. Following the completion of the acquisition, the chief executive officer owned 99,878 shares of the company’s stock, valued at approximately $715,126.48. This trade represents a 15.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% 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.