Portman Ridge Finance (NASDAQ:PTMN) announced its earnings results on Thursday. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.01), Fidelity Earnings reports. Portman Ridge Finance had a negative net margin of 86.64% and a positive return on equity of 2.41%. The business had revenue of $7.08 million for the quarter.
Shares of NASDAQ:PTMN traded up $0.05 during trading hours on Friday, hitting $2.25. 110,400 shares of the company’s stock traded hands, compared to its average volume of 135,511. The business has a fifty day moving average price of $2.24 and a 200-day moving average price of $2.45. The firm has a market capitalization of $81.81 million, a P/E ratio of 8.33 and a beta of 0.72. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.36 and a quick ratio of 0.36. Portman Ridge Finance has a 1 year low of $2.10 and a 1 year high of $3.80.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, November 14th. This represents a $0.24 annualized dividend and a dividend yield of 10.67%. Portman Ridge Finance’s dividend payout ratio (DPR) is presently 88.89%.
In other Portman Ridge Finance news, CEO Edward J. Goldthorpe purchased 11,500 shares of Portman Ridge Finance stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average cost of $2.29 per share, with a total value of $26,335.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have bought 32,639 shares of company stock worth $73,509. Insiders own 6.30% of the company’s stock.
Several research analysts have issued reports on PTMN shares. Zacks Investment Research lowered Portman Ridge Finance from a “hold” rating to a “sell” rating in a research report on Tuesday, October 8th. ValuEngine upgraded Portman Ridge Finance from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. TheStreet lowered Portman Ridge Finance from a “c-” rating to a “d+” rating in a research report on Wednesday, July 17th. Finally, LADENBURG THALM/SH SH upgraded Portman Ridge Finance from a “neutral” rating to a “buy” rating in a research report on Friday.
About Portman Ridge Finance
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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