Portman Ridge Finance Corp (BCIC) To Go Ex-Dividend on July 15th

Portman Ridge Finance Corp (NASDAQ:BCIC) declared a monthly dividend on Thursday, May 7th. Investors of record on Wednesday, July 15th will be given a dividend of 0.09 per share on Friday, July 31st. This represents a c) annualized dividend and a yield of 14.7%. The ex-dividend date of this dividend is Wednesday, July 15th.

Portman Ridge Finance Stock Performance

Shares of NASDAQ:BCIC opened at $7.37 on Monday. The stock has a 50-day simple moving average of $7.50. 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 has a 12-month low of $6.70 and a 12-month high of $13.50. The firm has a market cap of $91.24 million, a price-to-earnings ratio of -30.71 and a beta of 0.49.

Insiders Place Their Bets

In related news, CEO Edward J. Goldthorpe acquired 13,738 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer directly owned 99,878 shares of the company’s stock, valued at $715,126.48. This trade represents a 15.95% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dean C. Kehler sold 15,000 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was 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 position. Additional details regarding this sale 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

A hedge fund recently bought a new position in Portman Ridge Finance stock. Arlington Trust Co LLC purchased a new position in Portman Ridge Finance Corp (NASDAQ:BCIC) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,468 shares of the company’s stock, valued at approximately $29,000. Institutional investors and hedge funds own 30.14% of the company’s stock.

About Portman Ridge Finance

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.