Zacks: Portman Ridge Finance Corp (NASDAQ:PTMN) Given Average Recommendation of “Hold” by Brokerages
Portman Ridge Finance Corp (NASDAQ:PTMN) has earned a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation.
Zacks has also assigned Portman Ridge Finance an industry rank of 90 out of 256 based on the ratings given to related companies.
Several equities analysts have commented on the stock. TheStreet downgraded shares of Portman Ridge Finance from a “c-” rating to a “d+” rating in a research report on Wednesday, July 17th. ValuEngine raised Portman Ridge Finance from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research downgraded Portman Ridge Finance from a “hold” rating to a “sell” rating in a research report on Tuesday.
Portman Ridge Finance (NASDAQ:PTMN) last posted its earnings results on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.04). The business had revenue of $6.91 million for the quarter. Portman Ridge Finance had a positive return on equity of 2.41% and a negative net margin of 86.64%. Sell-side analysts forecast that Portman Ridge Finance will post 0.17 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Monday, August 12th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 10.48%. The ex-dividend date is Friday, August 9th. Portman Ridge Finance’s dividend payout ratio is currently 88.89%.
Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. acquired a new stake in shares of Portman Ridge Finance in the second quarter valued at approximately $30,000. LPL Financial LLC acquired a new stake in shares of Portman Ridge Finance in the second quarter valued at approximately $30,000. HighTower Advisors LLC acquired a new stake in shares of Portman Ridge Finance in the second quarter valued at approximately $34,000. Almitas Capital LLC acquired a new stake in shares of Portman Ridge Finance in the first quarter valued at approximately $70,000. Finally, Creative Planning acquired a new stake in shares of Portman Ridge Finance in the second quarter valued at approximately $82,000. 22.23% of the stock is currently owned by institutional investors.
Portman Ridge Finance Company Profile
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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