Portman Ridge Finance Co. (NASDAQ:PTMN) Sees Large Increase in Short Interest

Portman Ridge Finance Co. (NASDAQ:PTMN) was the target of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 52,200 shares, an increase of 22.8% from the January 15th total of 42,500 shares. Currently, 0.6% of the shares of the company are short sold. Based on an average trading volume of 55,200 shares, the short-interest ratio is currently 0.9 days.

Portman Ridge Finance Price Performance

Shares of NASDAQ PTMN traded up $0.03 during mid-day trading on Friday, reaching $17.31. The company had a trading volume of 25,961 shares, compared to its average volume of 33,090. The company has a debt-to-equity ratio of 1.41, a quick ratio of 3.14 and a current ratio of 3.14. Portman Ridge Finance has a one year low of $15.94 and a one year high of $20.84. The firm has a market cap of $159.48 million, a price-to-earnings ratio of 46.79 and a beta of 1.01. The business’s 50-day simple moving average is $16.62 and its 200 day simple moving average is $17.69.

Institutional Trading of Portman Ridge Finance

Several large investors have recently bought and sold shares of the business. Confluence Investment Management LLC boosted its stake in Portman Ridge Finance by 1.8% in the third quarter. Confluence Investment Management LLC now owns 60,751 shares of the company’s stock valued at $1,127,000 after buying an additional 1,072 shares in the last quarter. Founders Financial Alliance LLC boosted its stake in shares of 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 in the last quarter. Virtus ETF Advisers LLC lifted its stake in shares of Portman Ridge Finance by 25.3% in the fourth quarter. Virtus ETF Advisers LLC now owns 29,852 shares of the company’s stock worth $488,000 after acquiring an additional 6,031 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of Portman Ridge Finance in the third quarter worth approximately $251,000. Finally, Trexquant Investment LP lifted its stake in shares of Portman Ridge Finance by 50.3% in the fourth 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 during the period. 30.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lowered their price objective on Portman Ridge Finance from $19.00 to $18.00 and set a “market perform” rating on the stock in a research report on Thursday, November 14th.

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.