Portman Ridge Finance Co. (NASDAQ:PTMN) Short Interest Update

Portman Ridge Finance Co. (NASDAQ:PTMN) was the recipient of a large increase in short interest in January. As of January 31st, there was short interest totalling 52,200 shares, an increase of 22.8% from the January 15th total of 42,500 shares. Based on an average daily volume of 55,200 shares, the days-to-cover ratio is currently 0.9 days. Approximately 0.6% of the shares of the company are short sold.

Hedge Funds Weigh In On Portman Ridge Finance

Several institutional investors have recently made changes to their positions in the company. Confluence Investment Management LLC increased its holdings in Portman Ridge Finance by 1.8% in the 3rd quarter. Confluence Investment Management LLC now owns 60,751 shares of the company’s stock worth $1,127,000 after acquiring an additional 1,072 shares in the last quarter. Founders Financial Alliance LLC increased its holdings in Portman Ridge Finance by 6.3% in the 4th quarter. Founders Financial Alliance LLC now owns 62,217 shares of the company’s stock worth $1,017,000 after acquiring an additional 3,671 shares in the last quarter. Virtus ETF Advisers LLC increased its holdings in Portman Ridge Finance by 25.3% in the 4th quarter. Virtus ETF Advisers LLC now owns 29,852 shares of the company’s stock worth $488,000 after acquiring an additional 6,031 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Portman Ridge Finance in the 3rd quarter worth $251,000. Finally, Trexquant Investment LP increased its holdings in Portman Ridge Finance by 50.3% in the 4th quarter. Trexquant Investment LP now owns 65,351 shares of the company’s stock worth $1,068,000 after acquiring an additional 21,859 shares in the last quarter. 30.14% of the stock is owned by hedge funds and other institutional investors.

Portman Ridge Finance Stock Performance

Shares of NASDAQ:PTMN traded up $0.03 during trading on Friday, hitting $17.31. 25,961 shares of the stock traded hands, compared to its average volume of 33,090. 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 company has a market cap of $159.48 million, a price-to-earnings ratio of 46.79 and a beta of 1.01. The company has a fifty day moving average price of $16.62 and a two-hundred day moving average price of $17.68. Portman Ridge Finance has a 52-week low of $15.94 and a 52-week high of $20.84.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods cut their target price on shares of Portman Ridge Finance from $19.00 to $18.00 and set a “market perform” rating for the company in a report on Thursday, November 14th.

Portman Ridge Finance Company 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.