Keefe, Bruyette & Woods Lowers Portman Ridge Finance (NASDAQ:PTMN) Price Target to $18.00

Portman Ridge Finance (NASDAQ:PTMN) had its price target decreased by Keefe, Bruyette & Woods from $19.00 to $18.00 in a research report released on Thursday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Portman Ridge Finance Stock Performance

PTMN opened at $17.90 on Thursday. Portman Ridge Finance has a 12-month low of $16.27 and a 12-month high of $20.84. The stock has a market cap of $164.86 million, a price-to-earnings ratio of 48.38 and a beta of 1.02. The business has a 50 day moving average of $18.30 and a 200-day moving average of $18.99. The company has a quick ratio of 4.40, a current ratio of 3.14 and a debt-to-equity ratio of 1.41.

Portman Ridge Finance Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th will be given a $0.69 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 15.42%. Portman Ridge Finance’s payout ratio is 745.97%.

Institutional Trading of Portman Ridge Finance

Hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC acquired a new stake in shares of Portman Ridge Finance in the second quarter valued at approximately $59,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Portman Ridge Finance in the third quarter valued at approximately $251,000. Ritholtz Wealth Management acquired a new stake in shares of Portman Ridge Finance in the second quarter valued at approximately $272,000. Redhawk Wealth Advisors Inc. acquired a new stake in Portman Ridge Finance during the 2nd quarter worth approximately $787,000. Finally, Founders Financial Alliance LLC lifted its holdings in Portman Ridge Finance by 74.2% during the 2nd quarter. Founders Financial Alliance LLC now owns 49,954 shares of the company’s stock worth $980,000 after purchasing an additional 21,273 shares during the last quarter. 30.14% of the stock is owned 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 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.