Portman Ridge Finance Co. (NASDAQ:PTMN) Short Interest Down 36.9% in August

Portman Ridge Finance Co. (NASDAQ:PTMN) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 32,000 shares, a decline of 36.9% from the August 15th total of 50,700 shares. Based on an average daily volume of 42,400 shares, the short-interest ratio is currently 0.8 days. Currently, 0.4% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new stake in Portman Ridge Finance during the second quarter valued at about $59,000. Cape Investment Advisory Inc. bought a new position in shares of Portman Ridge Finance during the 4th quarter worth approximately $62,000. Ritholtz Wealth Management bought a new position in shares of Portman Ridge Finance during the 2nd quarter worth approximately $272,000. Founders Financial Alliance LLC purchased a new stake in Portman Ridge Finance during the fourth quarter valued at approximately $255,000. Finally, Redhawk Wealth Advisors Inc. purchased a new position in Portman Ridge Finance in the second quarter worth $787,000. 30.14% of the stock is currently owned by hedge funds and other institutional investors.

Portman Ridge Finance Stock Up 1.3 %

Shares of PTMN traded up $0.24 during midday trading on Monday, reaching $18.47. 37,934 shares of the stock were exchanged, compared to its average volume of 41,284. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 1.44. The company’s 50 day moving average is $19.07 and its two-hundred day moving average is $19.23. The company has a market capitalization of $171.88 million, a P/E ratio of 11.06 and a beta of 1.01. Portman Ridge Finance has a 52 week low of $16.27 and a 52 week high of $20.84.

Portman Ridge Finance (NASDAQ:PTMN) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. Portman Ridge Finance had a net margin of 18.14% and a return on equity of 14.86%. The business had revenue of $16.34 million during the quarter, compared to analyst estimates of $16.68 million. During the same quarter in the previous year, the business posted $0.83 EPS. On average, sell-side analysts anticipate that Portman Ridge Finance will post 2.74 earnings per share for the current year.

Portman Ridge Finance Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 22nd were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $2.76 annualized dividend and a yield of 14.94%. Portman Ridge Finance’s dividend payout ratio (DPR) is presently 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.