Keefe, Bruyette & Woods Lowers Portman Ridge Finance (NASDAQ:PTMN) Price Target to $14.00

Portman Ridge Finance (NASDAQ:PTMN) had its target price dropped by research analysts at Keefe, Bruyette & Woods from $16.00 to $14.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 10.24% from the company’s current price.

Portman Ridge Finance Stock Up 5.7 %

Shares of Portman Ridge Finance stock opened at $12.70 on Tuesday. Portman Ridge Finance has a 1 year low of $11.61 and a 1 year high of $20.84. The firm has a market cap of $116.81 million, a price-to-earnings ratio of 34.33 and a beta of 0.64. The company has a 50-day moving average of $15.88 and a 200 day moving average of $16.82. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.14 and a quick ratio of 3.14.

Portman Ridge Finance (NASDAQ:PTMN) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $14.40 million for the quarter, compared to the consensus estimate of $15.14 million. As a group, sell-side analysts anticipate that Portman Ridge Finance will post 2.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Confluence Investment Management LLC raised its stake in shares of Portman Ridge Finance by 6.1% in the first quarter. Confluence Investment Management LLC now owns 64,165 shares of the company’s stock worth $921,000 after purchasing an additional 3,693 shares during the last quarter. Two Sigma Investments LP boosted its holdings in Portman Ridge Finance by 25.3% in the fourth quarter. Two Sigma Investments LP now owns 106,165 shares of the company’s stock worth $1,735,000 after purchasing an additional 21,425 shares during the last quarter. Two Sigma Advisers LP grew its position in Portman Ridge Finance by 39.5% in the 4th quarter. Two Sigma Advisers LP now owns 178,200 shares of the company’s stock worth $2,912,000 after purchasing an additional 50,500 shares during the period. Bulldog Investors LLP increased its position in Portman Ridge Finance by 155.0% during the fourth quarter. Bulldog Investors LLP now owns 216,546 shares of the company’s stock valued at $3,539,000 after acquiring an additional 131,630 shares during the last quarter. Finally, Virtus ETF Advisers LLC increased its position in shares of Portman Ridge Finance by 25.3% during the 4th quarter. Virtus ETF Advisers LLC now owns 29,852 shares of the company’s stock valued at $488,000 after purchasing an additional 6,031 shares during the last quarter. 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, mezzanine, buyout in middle market companies. It also makes acquisitions in businesses complementary to the firm's business.