Portman Ridge Finance Co. (NASDAQ:PTMN) Short Interest Up 30.3% in September

Portman Ridge Finance Co. (NASDAQ:PTMN) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 41,700 shares, an increase of 30.3% from the August 31st total of 32,000 shares. Currently, 0.5% of the company’s stock are short sold. Based on an average daily trading volume, of 42,400 shares, the days-to-cover ratio is presently 1.0 days.

Institutional Trading of Portman Ridge Finance

Hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in Portman Ridge Finance during the second quarter worth approximately $59,000. Ritholtz Wealth Management bought a new stake in Portman Ridge Finance in the 2nd quarter valued at about $272,000. Redhawk Wealth Advisors Inc. bought a new stake in Portman Ridge Finance in the 2nd quarter valued at about $787,000. Founders Financial Alliance LLC increased its position in shares of Portman Ridge Finance by 74.2% during the second quarter. Founders Financial Alliance LLC now owns 49,954 shares of the company’s stock valued at $980,000 after buying an additional 21,273 shares during the period. Finally, Confluence Investment Management LLC purchased a new position in shares of Portman Ridge Finance during the first quarter worth about $1,112,000. 30.14% of the stock is owned by institutional investors and hedge funds.

Portman Ridge Finance Stock Up 0.1 %

PTMN stock traded up $0.01 during midday trading on Friday, hitting $18.17. The company’s stock had a trading volume of 39,741 shares, compared to its average volume of 40,839. The stock has a market capitalization of $169.09 million, a P/E ratio of 10.88 and a beta of 1.01. Portman Ridge Finance has a twelve month low of $16.27 and a twelve month high of $20.84. The company’s fifty day moving average price is $18.83 and its 200 day moving average price is $19.20. 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 (NASDAQ:PTMN) last announced its earnings results on Thursday, August 8th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $16.34 million for the quarter, compared to analyst estimates of $16.68 million. Portman Ridge Finance had a return on equity of 14.86% and a net margin of 18.14%. During the same quarter last year, the company earned $0.83 earnings per share. As a group, equities research analysts predict that Portman Ridge Finance will post 2.74 EPS for the current year.

Portman Ridge Finance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 22nd were paid a $0.69 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $2.76 dividend on an annualized basis and a dividend yield of 15.19%. 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.