Redhawk Wealth Advisors Inc. Acquires 3,038 Shares of Portman Ridge Finance Co. (NASDAQ:PTMN)

Redhawk Wealth Advisors Inc. grew its stake in shares of Portman Ridge Finance Co. (NASDAQ:PTMN) by 7.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,140 shares of the company’s stock after purchasing an additional 3,038 shares during the quarter. Redhawk Wealth Advisors Inc. owned about 0.47% of Portman Ridge Finance worth $800,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new position in Portman Ridge Finance in the 2nd quarter valued at about $59,000. Ritholtz Wealth Management acquired a new position in Portman Ridge Finance during the 2nd quarter worth approximately $272,000. Founders Financial Alliance LLC lifted its stake in shares of Portman Ridge Finance by 74.2% in the 2nd quarter. Founders Financial Alliance LLC now owns 49,954 shares of the company’s stock valued at $980,000 after acquiring an additional 21,273 shares during the last quarter. Finally, Confluence Investment Management LLC acquired a new stake in shares of Portman Ridge Finance during the first quarter valued at about $1,112,000. 30.14% of the stock is currently owned by institutional investors and hedge funds.

Portman Ridge Finance Trading Up 0.1 %

PTMN opened at $18.27 on Tuesday. The company has a debt-to-equity ratio of 1.44, a current ratio of 4.40 and a quick ratio of 4.40. Portman Ridge Finance Co. has a fifty-two week low of $16.27 and a fifty-two week high of $20.84. The firm has a market capitalization of $170.02 million, a price-to-earnings ratio of 10.94 and a beta of 1.02. The company’s 50 day moving average price is $18.56 and its two-hundred day moving average price is $19.15.

Portman Ridge Finance (NASDAQ:PTMN) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $16.34 million during the quarter, compared to analysts’ expectations of $16.68 million. During the same quarter in the prior year, the firm posted $0.83 earnings per share. As a group, research analysts predict that Portman Ridge Finance Co. will post 2.74 earnings per share for the current year.

Portman Ridge Finance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 22nd were issued a dividend of $0.69 per share. The ex-dividend date was Thursday, August 22nd. This represents a $2.76 dividend on an annualized basis and a yield of 15.11%. Portman Ridge Finance’s payout ratio is currently 165.27%.

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.