Portman Ridge Finance (NASDAQ:PTMN) Price Target Lowered to $16.00 at Keefe, Bruyette & Woods

Portman Ridge Finance (NASDAQ:PTMN) had its price target decreased by investment analysts at Keefe, Bruyette & Woods from $18.00 to $16.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 3.56% from the company’s previous close.

Portman Ridge Finance Price Performance

PTMN opened at $15.45 on Wednesday. Portman Ridge Finance has a twelve month low of $15.16 and a twelve month high of $20.84. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 1.41. The company has a 50-day moving average price of $16.82 and a 200 day moving average price of $17.36. The company has a market cap of $142.34 million, a PE ratio of 41.76 and a beta of 1.02.

Portman Ridge Finance (NASDAQ:PTMN) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.08). Portman Ridge Finance had a return on equity of 14.68% and a net margin of 5.47%. The company had revenue of $14.40 million for the quarter, compared to analyst estimates of $15.14 million. Sell-side analysts expect that Portman Ridge Finance will post 2.64 earnings per share for the current fiscal year.

Institutional Trading of Portman Ridge Finance

A number of hedge funds have recently bought and sold shares of PTMN. Bulldog Investors LLP raised its holdings in Portman Ridge Finance by 155.0% in the 4th quarter. Bulldog Investors LLP now owns 216,546 shares of the company’s stock valued at $3,539,000 after acquiring an additional 131,630 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Portman Ridge Finance in the 4th quarter valued at approximately $1,702,000. Two Sigma Advisers LP grew its stake in shares of Portman Ridge Finance by 39.5% in the 4th quarter. Two Sigma Advisers LP now owns 178,200 shares of the company’s stock valued at $2,912,000 after buying an additional 50,500 shares during the period. Trexquant Investment LP grew its stake in shares of 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 period. Finally, Two Sigma Investments LP grew its stake in shares of Portman Ridge Finance by 25.3% in the 4th quarter. Two Sigma Investments LP now owns 106,165 shares of the company’s stock valued at $1,735,000 after buying an additional 21,425 shares during the period. Institutional investors and hedge funds own 30.14% of the company’s stock.

About Portman Ridge Finance

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.