Zacks Research Downgrades Portman Ridge Finance (NASDAQ:BCIC) to Strong Sell

Portman Ridge Finance (NASDAQ:BCIC) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday, Zacks reports.

Several other equities analysts also recently commented on BCIC. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Portman Ridge Finance in a research report on Wednesday, August 19th. Keefe, Bruyette & Woods reduced their price target on shares of Portman Ridge Finance from $9.00 to $7.50 and set a “market perform” rating on the stock in a research note on Monday, August 10th. Finally, Oppenheimer dropped their target price on shares of Portman Ridge Finance from $12.00 to $11.00 and set a “market perform” rating on the stock in a research note on Monday, August 10th. Three investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $9.25.

Portman Ridge Finance Stock Up 0.7%

Shares of NASDAQ BCIC opened at $6.92 on Monday. Portman Ridge Finance has a 1 year low of $6.70 and a 1 year high of $13.50. The firm has a 50-day simple moving average of $7.31 and a two-hundred day simple moving average of $7.45. The company has a market cap of $85.67 million, a P/E ratio of -12.58 and a beta of 0.53. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.45 and a quick ratio of 1.45.

Portman Ridge Finance Company Profile

Portman Ridge Finance Corporation is a business development company that provides financing to middle-market businesses. The company primarily invests in privately held companies through senior secured loans, second-lien and subordinated debt, and, to a lesser extent, equity investments.

Its portfolio is generally focused on companies across a range of industries and may include first-lien, unitranche and other structured debt investments. Portman Ridge seeks to generate income from its investment portfolio while also pursuing potential long-term capital appreciation through equity and other investments.

The company is externally managed and has historically operated under the investment-management platform of Sierra Crest Investment Management LLC.