Sequoia Financial Advisors LLC Purchases Shares of 13,511 Portman Ridge Finance Co. (NASDAQ:PTMN)

Sequoia Financial Advisors LLC purchased a new stake in Portman Ridge Finance Co. (NASDAQ:PTMN) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 13,511 shares of the company’s stock, valued at approximately $251,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of PTMN. International Assets Investment Management LLC acquired a new stake in Portman Ridge Finance in the 2nd quarter valued at about $59,000. Ritholtz Wealth Management acquired a new stake in Portman Ridge Finance in the 2nd quarter valued at about $272,000. Redhawk Wealth Advisors Inc. purchased a new stake in Portman Ridge Finance during the second quarter valued at about $787,000. Founders Financial Alliance LLC lifted its stake in 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 in the last quarter. Finally, Confluence Investment Management LLC lifted its stake in Portman Ridge Finance by 1.8% during the second quarter. Confluence Investment Management LLC now owns 59,679 shares of the company’s stock valued at $1,171,000 after buying an additional 1,075 shares in the last quarter. 30.14% of the stock is owned by institutional investors and hedge funds.

Portman Ridge Finance Price Performance

PTMN stock opened at $18.54 on Wednesday. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 1.44. Portman Ridge Finance Co. has a one year low of $16.27 and a one year high of $20.84. The firm has a market capitalization of $171.38 million, a PE ratio of 14.06 and a beta of 1.02. The firm has a 50-day moving average of $18.43 and a two-hundred day moving average of $19.10.

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

Portman Ridge Finance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 22nd were paid a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 14.89%. The ex-dividend date was Thursday, August 22nd. Portman Ridge Finance’s dividend payout ratio is presently 210.69%.

Portman Ridge Finance 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.