Zacks: Analysts Set $2.00 Target Price for Portman Ridge Finance Corp (NASDAQ:PTMN)

Shares of Portman Ridge Finance Corp (NASDAQ:PTMN) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.

Analysts have set a 12 month consensus target price of $2.00 for the company, according to Zacks. Zacks has also given Portman Ridge Finance an industry rank of 155 out of 254 based on the ratings given to its competitors.

Several research analysts have recently issued reports on PTMN shares. Zacks Investment Research upgraded shares of Portman Ridge Finance from a “sell” rating to a “hold” rating in a report on Thursday, May 7th. ValuEngine upgraded shares of Portman Ridge Finance from a “strong sell” rating to a “sell” rating in a report on Friday, May 1st.

Institutional investors have recently modified their holdings of the company. Hilltop Holdings Inc. acquired a new stake in shares of Portman Ridge Finance during the 4th quarter valued at about $28,000. Royce & Associates LP acquired a new stake in shares of Portman Ridge Finance during the 4th quarter valued at about $47,000. Altium Wealth Management LLC acquired a new stake in shares of Portman Ridge Finance during the 4th quarter valued at about $66,000. Creative Planning boosted its position in shares of Portman Ridge Finance by 39.9% during the 4th quarter. Creative Planning now owns 34,238 shares of the company’s stock valued at $73,000 after acquiring an additional 9,773 shares in the last quarter. Finally, Marquette Asset Management LLC acquired a new stake in shares of Portman Ridge Finance during the 1st quarter valued at about $45,000. Institutional investors and hedge funds own 26.65% of the company’s stock.

PTMN traded down $0.01 during trading on Friday, hitting $1.15. The stock had a trading volume of 80,125 shares, compared to its average volume of 260,475. The firm has a market cap of $51.88 million, a PE ratio of -1.69 and a beta of 1.23. Portman Ridge Finance has a 12 month low of $0.75 and a 12 month high of $2.75. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 1.09. The company has a 50 day simple moving average of $1.05 and a 200-day simple moving average of $1.78.

Portman Ridge Finance (NASDAQ:PTMN) last announced its earnings results on Wednesday, May 6th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. The firm had revenue of $7.75 million for the quarter. Portman Ridge Finance had a negative net margin of 107.68% and a positive return on equity of 5.90%. As a group, sell-side analysts anticipate that Portman Ridge Finance will post 0.19 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Thursday, May 7th will be given a dividend of $0.06 per share. The ex-dividend date is Wednesday, May 6th. This represents a $0.24 annualized dividend and a dividend yield of 20.87%. Portman Ridge Finance’s dividend payout ratio (DPR) is currently 300.00%.

About Portman Ridge Finance

Portman Ridge Finance Corp. is a private equity fund and non-diversified closed-end investment company that invests in middle market companies generating consistent cash flows located in North America. It targets companies operating across a broad range of sectors such as aerospace and defense, automotive, beverage, food and tobacco, broadcasting and entertainment, buildings and real estate, personal and cargo transport, chemicals, plastics and rubber, containers, packaging and glass, diversified or conglomerate service, ecological, electronics, finance, and healthcare.

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