Portman Ridge Finance Co. (NASDAQ:PTMN) Short Interest Up 72.0% in February

Portman Ridge Finance Co. (NASDAQ:PTMN) saw a large increase in short interest in February. As of February 15th, there was short interest totalling 89,800 shares, an increase of 72.0% from the January 31st total of 52,200 shares. Currently, 1.0% of the company’s shares are sold short. Based on an average daily trading volume, of 46,800 shares, the days-to-cover ratio is currently 1.9 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Confluence Investment Management LLC raised its holdings in shares of Portman Ridge Finance by 1.8% in the 3rd quarter. Confluence Investment Management LLC now owns 60,751 shares of the company’s stock valued at $1,127,000 after purchasing an additional 1,072 shares in the last quarter. Founders Financial Alliance LLC increased its holdings in Portman Ridge Finance by 6.3% in the fourth quarter. Founders Financial Alliance LLC now owns 62,217 shares of the company’s stock valued at $1,017,000 after buying an additional 3,671 shares during the last quarter. Virtus ETF Advisers LLC raised its stake in Portman Ridge Finance by 25.3% in the fourth quarter. Virtus ETF Advisers LLC now owns 29,852 shares of the company’s stock valued at $488,000 after buying an additional 6,031 shares in the last quarter. Two Sigma Investments LP lifted its holdings in Portman Ridge Finance by 25.3% during the 4th quarter. Two Sigma Investments LP now owns 106,165 shares of the company’s stock worth $1,735,000 after buying an additional 21,425 shares during the last quarter. Finally, Trexquant Investment LP boosted its position in shares of Portman Ridge Finance by 50.3% during the 4th quarter. Trexquant Investment LP now owns 65,351 shares of the company’s stock worth $1,068,000 after acquiring an additional 21,859 shares in the last quarter. Hedge funds and other institutional investors own 30.14% of the company’s stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods cut their target price on Portman Ridge Finance from $19.00 to $18.00 and set a “market perform” rating for the company in a research note on Thursday, November 14th.

Portman Ridge Finance Stock Up 0.5 %

PTMN traded up $0.08 on Friday, hitting $17.45. 33,482 shares of the company were exchanged, compared to its average volume of 33,643. The firm has a 50-day moving average price of $16.77 and a two-hundred day moving average price of $17.57. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 1.41. Portman Ridge Finance has a twelve month low of $15.94 and a twelve month high of $20.84. The company has a market cap of $160.77 million, a price-to-earnings ratio of 47.16 and a beta of 1.01.

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.