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

Portman Ridge Finance (NASDAQ:PTMN) had its price target dropped by stock analysts at Keefe, Bruyette & Woods from $18.00 to $16.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 2.04% from the company’s previous close.

Portman Ridge Finance Stock Up 1.2 %

NASDAQ:PTMN opened at $15.68 on Wednesday. The firm has a market capitalization of $144.22 million, a price-to-earnings ratio of 42.38 and a beta of 1.02. Portman Ridge Finance has a 1-year low of $15.16 and a 1-year high of $20.84. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 1.41. The business’s fifty day moving average price is $16.79 and its 200 day moving average price is $17.34.

Portman Ridge Finance (NASDAQ:PTMN) last issued its earnings results on Thursday, March 13th. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.08). Portman Ridge Finance had a net margin of 5.47% and a return on equity of 14.68%. The firm had revenue of $14.40 million during the quarter, compared to analysts’ expectations of $15.14 million. On average, sell-side analysts forecast that Portman Ridge Finance will post 2.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PTMN. Virtus ETF Advisers LLC boosted its stake in shares of Portman Ridge Finance by 25.3% during the 4th quarter. Virtus ETF Advisers LLC now owns 29,852 shares of the company’s stock worth $488,000 after acquiring an additional 6,031 shares in the last quarter. Founders Financial Alliance LLC boosted its stake in shares of Portman Ridge Finance by 6.3% during the 4th quarter. Founders Financial Alliance LLC now owns 62,217 shares of the company’s stock worth $1,017,000 after acquiring an additional 3,671 shares in the last quarter. Trexquant Investment LP boosted its stake in shares of Portman Ridge Finance by 50.3% during the 4th quarter. Trexquant Investment LP now owns 65,351 shares of the company’s stock worth $1,068,000 after acquiring an additional 21,859 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Portman Ridge Finance during the 4th quarter worth about $1,702,000. Finally, Two Sigma Investments LP boosted its stake in shares of Portman Ridge Finance by 25.3% during the 4th quarter. Two Sigma Investments LP now owns 106,165 shares of the company’s stock worth $1,735,000 after acquiring an additional 21,425 shares in the last quarter. Hedge funds and other institutional investors 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.