International Assets Investment Management LLC Raises Stock Position in Portman Ridge Finance Co. (NASDAQ:PTMN)

International Assets Investment Management LLC grew its holdings in Portman Ridge Finance Co. (NASDAQ:PTMN) by 1,340.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,166 shares of the company’s stock after buying an additional 40,169 shares during the period. International Assets Investment Management LLC owned approximately 0.46% of Portman Ridge Finance worth $801,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PTMN. Redhawk Wealth Advisors Inc. purchased a new position in shares of Portman Ridge Finance during the 2nd quarter worth about $787,000. Founders Financial Alliance LLC lifted its holdings in Portman Ridge Finance by 74.2% during the 2nd quarter. Founders Financial Alliance LLC now owns 49,954 shares of the company’s stock valued at $980,000 after buying an additional 21,273 shares in the last quarter. Ritholtz Wealth Management bought a new stake in Portman Ridge Finance during the 2nd quarter valued at about $272,000. Sequoia Financial Advisors LLC bought a new stake in Portman Ridge Finance during the 3rd quarter valued at about $251,000. Finally, Confluence Investment Management LLC lifted its holdings in Portman Ridge Finance by 1.8% during the 2nd quarter. Confluence Investment Management LLC now owns 59,679 shares of the company’s stock valued at $1,171,000 after buying an additional 1,075 shares in the last quarter. 30.14% of the stock is owned by hedge funds and other institutional investors.

Portman Ridge Finance Trading Up 0.8 %

Shares of PTMN opened at $18.61 on Wednesday. Portman Ridge Finance Co. has a 1-year low of $16.27 and a 1-year high of $20.84. The company has a debt-to-equity ratio of 1.44, a current ratio of 4.40 and a quick ratio of 4.40. The firm has a market capitalization of $171.96 million, a price-to-earnings ratio of 14.21 and a beta of 1.02. The company has a 50-day moving average of $18.38 and a 200 day moving average of $19.07.

Portman Ridge Finance (NASDAQ:PTMN) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The business had revenue of $16.34 million during the quarter, compared to analyst estimates 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 previous year, the business posted $0.83 EPS. On average, research analysts expect that Portman Ridge Finance Co. will post 2.74 EPS for the current year.

Portman Ridge Finance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 22nd were paid a dividend of $0.69 per share. The ex-dividend date was Thursday, August 22nd. This represents a $2.76 annualized dividend and a dividend yield of 14.83%. Portman Ridge Finance’s dividend payout ratio (DPR) is presently 210.69%.

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.