Portman Ridge Finance Co. (NASDAQ:PTMN) Short Interest Up 72.0% in February

Portman Ridge Finance Co. (NASDAQ:PTMN) saw a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 89,800 shares, an increase of 72.0% from the January 31st total of 52,200 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 46,800 shares, the days-to-cover ratio is currently 1.9 days.

Institutional Trading of Portman Ridge Finance

Several institutional investors and hedge funds have recently added to or reduced their stakes in PTMN. Virtus ETF Advisers LLC grew its stake in shares of Portman Ridge Finance by 25.3% in the 4th quarter. Virtus ETF Advisers LLC now owns 29,852 shares of the company’s stock valued at $488,000 after purchasing an additional 6,031 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Portman Ridge Finance by 1,340.3% during the third quarter. International Assets Investment Management LLC now owns 43,166 shares of the company’s stock worth $801,000 after purchasing an additional 40,169 shares during the period. Founders Financial Alliance LLC lifted its holdings in shares of Portman Ridge Finance by 6.3% during the fourth quarter. Founders Financial Alliance LLC now owns 62,217 shares of the company’s stock worth $1,017,000 after purchasing an additional 3,671 shares during the period. Trexquant Investment LP grew its position in Portman Ridge Finance by 50.3% in the 4th quarter. Trexquant Investment LP now owns 65,351 shares of the company’s stock valued at $1,068,000 after buying an additional 21,859 shares during the last quarter. Finally, Confluence Investment Management LLC increased its stake in Portman Ridge Finance by 1.8% in the 3rd quarter. Confluence Investment Management LLC now owns 60,751 shares of the company’s stock valued at $1,127,000 after buying an additional 1,072 shares during the period. 30.14% of the stock is owned by hedge funds and other institutional investors.

Portman Ridge Finance Stock Performance

Shares of NASDAQ:PTMN traded up $0.08 on Friday, reaching $17.45. The company’s stock had a trading volume of 33,482 shares, compared to its average volume of 33,643. Portman Ridge Finance has a 52-week low of $15.94 and a 52-week high of $20.84. The stock has a market capitalization of $160.77 million, a P/E ratio of 47.16 and a beta of 1.01. The stock’s 50-day moving average is $16.77 and its two-hundred day moving average is $17.57. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.14 and a quick ratio of 3.14.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lowered their target price on shares of Portman Ridge Finance from $19.00 to $18.00 and set a “market perform” rating on the stock in a research report on Thursday, November 14th.

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.