Portman Ridge Finance Co. (NASDAQ:PTMN – Get Rating) major shareholder Master Fund Lp Repertoire bought 1,658 shares of the firm’s stock in a transaction on Friday, January 27th. The stock was bought at an average price of $22.75 per share, with a total value of $37,719.50. Following the completion of the purchase, the insider now owns 1,173,638 shares of the company’s stock, valued at $26,700,264.50. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Master Fund Lp Repertoire also recently made the following trade(s):
- On Wednesday, February 8th, Master Fund Lp Repertoire sold 10,144 shares of Portman Ridge Finance stock. The shares were sold at an average price of $22.65, for a total value of $229,761.60.
- On Monday, February 6th, Master Fund Lp Repertoire sold 100 shares of Portman Ridge Finance stock. The stock was sold at an average price of $22.70, for a total value of $2,270.00.
Portman Ridge Finance Stock Performance
Shares of NASDAQ PTMN opened at $19.53 on Thursday. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 1.61. The stock has a 50 day simple moving average of $21.15 and a 200-day simple moving average of $21.73. The company has a market cap of $186.55 million, a PE ratio of -8.96 and a beta of 0.82. Portman Ridge Finance Co. has a 12-month low of $19.26 and a 12-month high of $24.49.
Portman Ridge Finance Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Monday, March 20th were issued a dividend of $0.68 per share. This is a boost from Portman Ridge Finance’s previous quarterly dividend of $0.67. The ex-dividend date was Friday, March 17th. This represents a $2.72 annualized dividend and a yield of 13.93%. Portman Ridge Finance’s payout ratio is presently -124.77%.
Institutional Investors Weigh In On Portman Ridge Finance
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PTMN. Repertoire Partners LP raised its holdings in Portman Ridge Finance by 5.1% during the third quarter. Repertoire Partners LP now owns 1,139,124 shares of the company’s stock worth $23,922,000 after purchasing an additional 55,537 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Portman Ridge Finance by 24.2% during the 4th quarter. Advisors Asset Management Inc. now owns 154,003 shares of the company’s stock valued at $3,542,000 after acquiring an additional 30,008 shares during the last quarter. Two Sigma Investments LP lifted its position in shares of Portman Ridge Finance by 47.9% during the 4th quarter. Two Sigma Investments LP now owns 33,767 shares of the company’s stock valued at $777,000 after acquiring an additional 10,931 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Portman Ridge Finance by 40.4% during the 1st quarter. Mackenzie Financial Corp now owns 35,141 shares of the company’s stock valued at $724,000 after acquiring an additional 10,104 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Portman Ridge Finance during the 4th quarter valued at $222,000. Institutional investors own 28.46% of the company’s stock.
Analysts Set New Price Targets
Separately, Keefe, Bruyette & Woods reduced their price objective on Portman Ridge Finance from $23.50 to $21.50 and set a “market perform” rating for the company in a research report on Wednesday, March 15th.
About Portman Ridge Finance
Portman Ridge Finance is an investment company. They invest in senior secured term loans and mezzanine debt primarily in privately held middle market companies, asset management companies, and debt and subordinated securities.
Read More
- Get a free copy of the StockNews.com research report on Portman Ridge Finance (PTMN)
- Starbucks Stock Becomes a Value Play
- Kraft Heinz Recovery Gains Momentum
- Here’s Why AMD’s Weak Guidance Is A Blessing In Disguise
- BP Shares Sold Off After Earnings: Here Is What Upset Markets
- Will Forced Divesture Of Grail Boost Illumina Shareholder Value?
Receive News & Ratings for Portman Ridge Finance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Portman Ridge Finance and related companies with MarketBeat.com's FREE daily email newsletter.
