Master Fund Lp Repertoire Purchases 2,500 Shares of Portman Ridge Finance Co. (NASDAQ:PTMN) Stock

Posted by Defense World Staff on May 4th, 2023

Portman Ridge Finance Co. (NASDAQ:PTMN – Get Rating) major shareholder Master Fund Lp Repertoire acquired 2,500 shares of the company’s stock in a transaction that occurred on Thursday, January 5th. The shares were bought at an average cost of $22.36 per share, for a total transaction of $55,900.00. Following the acquisition, the insider now directly owns 1,166,871 shares in the company, valued at approximately $26,091,235.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions 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 stock was 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 Price Performance

Shares of NASDAQ PTMN opened at $19.53 on Thursday. The firm has a market capitalization of $186.55 million, a P/E ratio of -8.96 and a beta of 0.82. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 1.61. The stock’s 50-day simple moving average is $21.15 and its two-hundred day simple moving average is $21.73. Portman Ridge Finance Co. has a twelve month low of $19.26 and a twelve month high of $24.49.

Portman Ridge Finance (NASDAQ:PTMN – Get Rating) last announced its earnings results on Thursday, March 9th. The company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.02). The business had revenue of $18.62 million during the quarter, compared to the consensus estimate of $18.88 million. Portman Ridge Finance had a positive return on equity of 11.29% and a negative net margin of 30.16%. As a group, equities analysts anticipate that Portman Ridge Finance Co. will post 3.12 EPS for the current fiscal year.

Portman Ridge Finance Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Monday, March 20th were given a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, March 17th. This is a positive change from Portman Ridge Finance’s previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a dividend yield of 13.93%. Portman Ridge Finance’s dividend payout ratio is -124.77%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods decreased their target price on Portman Ridge Finance from $23.50 to $21.50 and set a “market perform” rating on the stock in a research note on Wednesday, March 15th.

Hedge Funds Weigh In On Portman Ridge Finance

Several institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp increased 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 purchasing an additional 10,104 shares during the last quarter. Morgan Stanley increased its position in shares of Portman Ridge Finance by 39.1% during the 4th quarter. Morgan Stanley now owns 8,040 shares of the company’s stock valued at $185,000 after purchasing an additional 2,260 shares during the last quarter. Two Sigma Investments LP increased 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 purchasing an additional 10,931 shares during the last quarter. Advisors Asset Management Inc. increased 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 purchasing an additional 30,008 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC bought a new position in shares of Portman Ridge Finance during the 4th quarter valued at about $27,000. 28.46% of the stock is currently owned by institutional investors.

Portman Ridge Finance Company Profile

(Get Rating)

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.