Trexquant Investment LP Buys 21,859 Shares of Portman Ridge Finance Co. (NASDAQ:PTMN)

Trexquant Investment LP increased its stake in Portman Ridge Finance Co. (NASDAQ:PTMN) by 50.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 65,351 shares of the company’s stock after purchasing an additional 21,859 shares during the quarter. Trexquant Investment LP owned approximately 0.71% of Portman Ridge Finance worth $1,068,000 at the end of the most recent quarter.

Separately, Raymond James Financial Inc. bought a new position in Portman Ridge Finance in the 4th quarter worth $1,702,000. 30.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods decreased their target price on Portman Ridge Finance from $16.00 to $14.00 and set a “market perform” rating on the stock in a report on Tuesday.

Portman Ridge Finance Price Performance

NASDAQ:PTMN opened at $11.98 on Friday. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 1.41. The business’s 50-day simple moving average is $15.78 and its two-hundred day simple moving average is $16.77. The stock has a market cap of $110.19 million, a PE ratio of 32.38 and a beta of 0.64. Portman Ridge Finance Co. has a 52 week low of $11.61 and a 52 week high of $20.84.

Portman Ridge Finance (NASDAQ:PTMN) last posted its quarterly 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). The business had revenue of $14.40 million for the quarter, compared to the consensus estimate of $15.14 million. Portman Ridge Finance had a net margin of 5.47% and a return on equity of 14.68%. As a group, analysts forecast that Portman Ridge Finance Co. will post 2.64 EPS for the current fiscal year.

Portman Ridge Finance Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 24th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, March 24th. This represents a $1.88 dividend on an annualized basis and a yield of 15.69%. Portman Ridge Finance’s dividend payout ratio is presently -293.75%.

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.