Raymond James Financial Inc. Takes Position in Portman Ridge Finance Co. (NASDAQ:PTMN)

Raymond James Financial Inc. bought a new stake in Portman Ridge Finance Co. (NASDAQ:PTMN) during the fourth quarter, HoldingsChannel reports. The firm bought 104,167 shares of the company’s stock, valued at approximately $1,702,000.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods decreased their price objective on shares of Portman Ridge Finance from $18.00 to $16.00 and set a “market perform” rating for the company in a research report on Wednesday, March 19th.

Portman Ridge Finance Price Performance

NASDAQ:PTMN opened at $14.35 on Tuesday. Portman Ridge Finance Co. has a 12-month low of $14.15 and a 12-month high of $20.84. The firm has a market capitalization of $131.99 million, a price-to-earnings ratio of 38.78 and a beta of 1.02. The stock’s 50 day moving average price is $16.57 and its two-hundred day moving average price is $17.14. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 1.41.

Portman Ridge Finance (NASDAQ:PTMN) last announced its quarterly earnings results on Thursday, March 13th. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.08). Portman Ridge Finance had a net margin of 5.47% and a return on equity of 14.68%. The business had revenue of $14.40 million for the quarter, compared to analyst estimates of $15.14 million. On average, analysts anticipate that Portman Ridge Finance Co. will post 2.64 earnings per share for the current year.

Portman Ridge Finance Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 24th were paid a $0.47 dividend. The ex-dividend date was Monday, March 24th. This represents a $1.88 dividend on an annualized basis and a yield of 13.10%. Portman Ridge Finance’s dividend payout ratio (DPR) is currently -293.75%.

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, mezzanine, buyout in middle market companies. It also makes acquisitions in businesses complementary to the firm's business.