Founders Financial Alliance LLC Grows Position in Portman Ridge Finance Co. (NASDAQ:PTMN)

Founders Financial Alliance LLC grew its stake in Portman Ridge Finance Co. (NASDAQ:PTMN) by 74.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 49,954 shares of the company’s stock after buying an additional 21,273 shares during the period. Founders Financial Alliance LLC’s holdings in Portman Ridge Finance were worth $980,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in Portman Ridge Finance in the second quarter valued at approximately $59,000. Ritholtz Wealth Management purchased a new stake in shares of Portman Ridge Finance in the 2nd quarter valued at $272,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Portman Ridge Finance in the second quarter worth $787,000. Confluence Investment Management LLC purchased a new position in shares of Portman Ridge Finance during the first quarter worth $1,112,000. Finally, Privium Fund Management UK Ltd acquired a new position in Portman Ridge Finance during the fourth quarter valued at $1,789,000. 30.14% of the stock is currently owned by institutional investors and hedge funds.

Portman Ridge Finance Price Performance

Shares of PTMN opened at $18.55 on Tuesday. The business’s 50-day moving average is $18.83 and its two-hundred day moving average is $19.20. The company has a market capitalization of $172.63 million, a P/E ratio of 11.11 and a beta of 1.01. Portman Ridge Finance Co. has a fifty-two week low of $16.27 and a fifty-two week high of $20.84. The company has a debt-to-equity ratio of 1.44, a quick ratio of 4.40 and a current ratio of 4.40.

Portman Ridge Finance (NASDAQ:PTMN) last posted its earnings results on Thursday, August 8th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. Portman Ridge Finance had a return on equity of 14.86% and a net margin of 18.14%. The firm had revenue of $16.34 million for the quarter, compared to analyst estimates of $16.68 million. During the same period last year, the company earned $0.83 earnings per share. Research analysts predict that Portman Ridge Finance Co. will post 2.74 earnings per share for the current year.

Portman Ridge Finance Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors 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 14.88%. Portman Ridge Finance’s dividend payout ratio 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.