International Assets Investment Management LLC Purchases Shares of 2,997 Portman Ridge Finance Co. (NASDAQ:PTMN)

International Assets Investment Management LLC acquired a new position in shares of Portman Ridge Finance Co. (NASDAQ:PTMN) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,997 shares of the company’s stock, valued at approximately $59,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Confluence Investment Management LLC acquired a new stake in shares of Portman Ridge Finance during the 1st quarter worth about $1,112,000. Founders Financial Alliance LLC acquired a new stake in shares of Portman Ridge Finance during the fourth quarter worth approximately $255,000. Privium Fund Management UK Ltd bought a new position in shares of Portman Ridge Finance in the fourth quarter valued at approximately $1,789,000. Cape Investment Advisory Inc. acquired a new position in shares of Portman Ridge Finance in the 4th quarter worth approximately $62,000. Finally, Redhawk Wealth Advisors Inc. bought a new stake in Portman Ridge Finance during the 2nd quarter worth approximately $787,000. 30.14% of the stock is owned by institutional investors.

Portman Ridge Finance Trading Up 0.2 %

Shares of PTMN opened at $18.49 on Thursday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 4.40 and a current ratio of 4.40. The company has a market cap of $170.85 million, a price-to-earnings ratio of 11.07 and a beta of 1.01. The stock has a fifty day moving average price of $19.27 and a two-hundred day moving average price of $19.24. Portman Ridge Finance Co. has a 52-week low of $16.27 and a 52-week high of $20.84.

Portman Ridge Finance (NASDAQ:PTMN) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Portman Ridge Finance had a return on equity of 14.86% and a net margin of 18.14%. The business had revenue of $16.34 million during the quarter, compared to analysts’ expectations of $16.68 million. During the same period in the previous year, the business posted $0.83 earnings per share. Analysts predict that Portman Ridge Finance Co. will post 2.74 EPS for the current fiscal year.

Portman Ridge Finance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 22nd were paid a dividend of $0.69 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $2.76 annualized dividend and a dividend yield of 14.93%. Portman Ridge Finance’s dividend payout ratio (DPR) is currently 165.27%.

Portman Ridge Finance 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.