104,167 Shares in Portman Ridge Finance Co. (NASDAQ:PTMN) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in shares of Portman Ridge Finance Co. (NASDAQ:PTMN) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 104,167 shares of the company’s stock, valued at approximately $1,702,000. Raymond James Financial Inc. owned about 1.13% of Portman Ridge Finance at the end of the most recent reporting period.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods cut their price objective on Portman Ridge Finance from $18.00 to $16.00 and set a “market perform” rating for the company in a report on Wednesday, March 19th.

Portman Ridge Finance Stock Down 0.1 %

PTMN stock opened at $14.35 on Tuesday. The company has a 50 day moving average of $16.57 and a two-hundred day moving average of $17.14. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 1.41. Portman Ridge Finance Co. has a 12-month low of $14.15 and a 12-month high of $20.84. The company has a market cap of $131.99 million, a price-to-earnings ratio of 38.78 and a beta of 1.02.

Portman Ridge Finance (NASDAQ:PTMN) last released its quarterly 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). Portman Ridge Finance had a net margin of 5.47% and a return on equity of 14.68%. The firm had revenue of $14.40 million during the quarter, compared to the consensus estimate of $15.14 million. On average, equities analysts anticipate that Portman Ridge Finance Co. will post 2.64 earnings per share for the current fiscal year.

Portman Ridge Finance Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 24th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, March 24th. This represents a $1.88 dividend on an annualized basis and a yield of 13.10%. Portman Ridge Finance’s dividend payout ratio is currently -293.75%.

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.