Portman Ridge Finance Co. (NASDAQ: PTMN – Get a rating) – Oppenheimer equity research analysts raised their FY2022 EPS estimates for Portman Ridge Finance in a report released Thursday, Nov. 10. Oppenheimer analyst Penn now expects the company to earn $3.03 per share for the year, up from his previous forecast of $2.70. The consensus estimate for Portman Ridge Finance’s current annual earnings is $2.91 per share.
Separately, TheStreet downgraded shares of Portman Ridge Finance from a “b-” rating to a “c” rating in a Monday, August 22 research report.
Portman Ridge Finance Stock Performance
Shares of RTMN opened at $22.08 on Monday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt ratio of 1.37. The company has a market capitalization of $212.17 million, a PE ratio of -19.89 and a beta of 0.89. The company’s 50-day simple moving average is $20.98 and its 200-day simple moving average is $22.37. Portman Ridge Finance has a 12-month low of $19.26 and a 12-month high of $25.55.
Portman Ridge Finance increases its dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 13. Investors of record on Thursday, November 24 will receive a dividend of $0.67. This represents a dividend of $2.68 on an annualized basis and a yield of 12.14%. This is a positive change from Portman Ridge Finance’s previous quarterly dividend of $0.63. The ex-dividend date is Tuesday, November 22. Portman Ridge Finance’s dividend payout ratio (DPR) is -227.02%.
Hedge funds weigh on Portman Ridge Finance
Several institutional investors have recently bought and sold shares of the company. Legal & General Group Plc increased its stake in shares of Portman Ridge Finance by 6.0% during the second quarter. Legal & General Group Plc now owns 55,834 shares in the company worth $1,308,000 after acquiring an additional 3,153 shares during the period. Confluence Investment Management LLC increased its stake in shares of Portman Ridge Finance by 19.1% during the 2nd quarter. Confluence Investment Management LLC now owns 62,459 shares of the company worth $1,463,000 after buying 10,011 additional shares last quarter. Advisors Asset Management Inc. increased its equity stake in Portman Ridge Finance by 30.6% in Q1. Advisors Asset Management Inc. now owns 83,805 shares of the company valued at $2,026,000 after purchasing an additional 19,651 shares during the period. Bulldog Investors LLP increased its stake in shares of Portman Ridge Finance by 11.9% in the second quarter. Bulldog Investors LLP now owns 126,665 shares of the company valued at $2,968,000 after purchasing an additional 13,451 shares in the last quarter. Finally, Clayton Partners LLC increased its stake in Portman Ridge Finance by 2.5% during the third quarter. Clayton Partners LLC now owns 276,258 shares of the company worth $5,801,000 after acquiring an additional 6,868 shares during the period. 27.89% of the shares are held by institutional investors and hedge funds.
About Portman Ridge Finance
Portman Ridge Finance Corporation is a business development company specializing in investments in unitranche loans (including late loans), senior loans, junior loans, subordinated debt, equity co-investment, buyout in middle market companies. It also carries out acquisitions in companies complementary to the company’s activity.
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