Portman Ridge Finance (NASDAQ:PTMN) Price Target Lowered to $16.00 at Keefe, Bruyette & Woods

Portman Ridge Finance (NASDAQ:PTMN) had its target price lowered by investment analysts at Keefe, Bruyette & Woods from $18.00 to $16.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 3.56% from the stock’s current price.

Portman Ridge Finance Stock Performance

Portman Ridge Finance stock opened at $15.45 on Wednesday. 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 has a 1-year low of $15.16 and a 1-year high of $20.84. The firm has a market capitalization of $142.34 million, a P/E ratio of 41.76 and a beta of 1.02. The company’s 50-day moving average is $16.82 and its 200 day moving average is $17.36.

Portman Ridge Finance (NASDAQ:PTMN) last issued its earnings results on Thursday, March 13th. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.08). The company had revenue of $14.40 million for the quarter, compared to analysts’ expectations of $15.14 million. Portman Ridge Finance had a return on equity of 14.68% and a net margin of 5.47%. Research analysts forecast that Portman Ridge Finance will post 2.64 EPS for the current year.

Hedge Funds Weigh In On Portman Ridge Finance

Several institutional investors have recently bought and sold shares of PTMN. Virtus ETF Advisers LLC lifted its stake in shares of Portman Ridge Finance by 25.3% during the fourth quarter. Virtus ETF Advisers LLC now owns 29,852 shares of the company’s stock worth $488,000 after buying an additional 6,031 shares during the period. Founders Financial Alliance LLC lifted its position in Portman Ridge Finance by 6.3% during the fourth quarter. Founders Financial Alliance LLC now owns 62,217 shares of the company’s stock valued at $1,017,000 after purchasing an additional 3,671 shares during the period. Trexquant Investment LP lifted its position in Portman Ridge Finance by 50.3% during the fourth quarter. Trexquant Investment LP now owns 65,351 shares of the company’s stock valued at $1,068,000 after purchasing an additional 21,859 shares during the period. Raymond James Financial Inc. purchased a new position in Portman Ridge Finance in the fourth quarter valued at $1,702,000. Finally, Two Sigma Investments LP increased 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 valued at $1,735,000 after buying an additional 21,425 shares in the last quarter. 30.14% of the stock is owned by hedge funds and other institutional investors.

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.