Portman Ridge Finance Co. (NASDAQ:PTMN) Shares Bought by International Assets Investment Management LLC

International Assets Investment Management LLC boosted its stake in shares of Portman Ridge Finance Co. (NASDAQ:PTMN) by 1,340.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 43,166 shares of the company’s stock after acquiring an additional 40,169 shares during the period. International Assets Investment Management LLC’s holdings in Portman Ridge Finance were worth $801,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PTMN. Sequoia Financial Advisors LLC purchased a new stake in shares of Portman Ridge Finance in the third quarter valued at about $251,000. Redhawk Wealth Advisors Inc. grew its holdings in shares of Portman Ridge Finance by 7.6% in the third quarter. Redhawk Wealth Advisors Inc. now owns 43,140 shares of the company’s stock valued at $800,000 after purchasing an additional 3,038 shares during the period. Founders Financial Alliance LLC grew its holdings in shares of Portman Ridge Finance by 74.2% in the second quarter. Founders Financial Alliance LLC now owns 49,954 shares of the company’s stock valued at $980,000 after purchasing an additional 21,273 shares during the period. Ritholtz Wealth Management purchased a new position in Portman Ridge Finance during the second quarter worth about $272,000. Finally, Confluence Investment Management LLC boosted 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 worth $1,171,000 after buying an additional 1,075 shares during the period. 30.14% of the stock is currently owned by institutional investors and hedge funds.

Portman Ridge Finance Trading Up 0.8 %

Shares of PTMN stock opened at $18.61 on Wednesday. The company has a debt-to-equity ratio of 1.44, a current ratio of 4.40 and a quick ratio of 4.40. The firm has a market cap of $171.96 million, a PE ratio of 14.21 and a beta of 1.02. The company has a 50-day moving average of $18.38 and a two-hundred day moving average of $19.07. Portman Ridge Finance Co. has a 1-year low of $16.27 and a 1-year high of $20.84.

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

Portman Ridge Finance Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 22nd were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 14.83%. The ex-dividend date of this dividend was Thursday, August 22nd. Portman Ridge Finance’s payout ratio is 210.69%.

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.