Sequoia Financial Advisors LLC Buys Shares of 13,511 Portman Ridge Finance Co. (NASDAQ:PTMN)

Sequoia Financial Advisors LLC bought a new stake in shares of Portman Ridge Finance Co. (NASDAQ:PTMN) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 13,511 shares of the company’s stock, valued at approximately $251,000. Sequoia Financial Advisors LLC owned about 0.15% of Portman Ridge Finance at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in shares of Portman Ridge Finance during the second quarter worth about $59,000. Founders Financial Alliance LLC grew its position in shares of Portman Ridge Finance by 74.2% during the second quarter. Founders Financial Alliance LLC now owns 49,954 shares of the company’s stock worth $980,000 after acquiring an additional 21,273 shares during the last quarter. Confluence Investment Management LLC grew its position in shares of Portman Ridge Finance by 1.8% during the second quarter. Confluence Investment Management LLC now owns 59,679 shares of the company’s stock worth $1,171,000 after acquiring an additional 1,075 shares during the last quarter. Redhawk Wealth Advisors Inc. grew its position in shares of Portman Ridge Finance by 7.6% during the third quarter. Redhawk Wealth Advisors Inc. now owns 43,140 shares of the company’s stock worth $800,000 after acquiring an additional 3,038 shares during the last quarter. Finally, Ritholtz Wealth Management bought a new position in shares of Portman Ridge Finance during the second quarter worth about $272,000. Institutional investors own 30.14% of the company’s stock.

Portman Ridge Finance Stock Up 1.1 %

Portman Ridge Finance stock opened at $18.54 on Wednesday. The company has a 50-day simple moving average of $18.43 and a 200-day simple moving average of $19.10. The firm has a market capitalization of $171.38 million, a P/E ratio of 14.06 and a beta of 1.02. The company has a debt-to-equity ratio of 1.44, a quick ratio of 4.40 and a current ratio of 4.40. Portman Ridge Finance Co. has a one year low of $16.27 and a one year high of $20.84.

Portman Ridge Finance (NASDAQ:PTMN) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. The business had revenue of $16.34 million during the quarter, compared to the consensus estimate of $16.68 million. Portman Ridge Finance had a net margin of 18.14% and a return on equity of 14.86%. During the same quarter in the prior year, the company posted $0.83 earnings per share. As a group, equities analysts expect that Portman Ridge Finance Co. will post 2.74 earnings per share for the current year.

Portman Ridge Finance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 22nd were issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 14.89%. The ex-dividend date of this dividend was Thursday, August 22nd. Portman Ridge Finance’s payout ratio is currently 210.69%.

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.