Keefe, Bruyette & Woods Has Lowered Expectations for Portman Ridge Finance (NASDAQ:PTMN) Stock Price

Portman Ridge Finance (NASDAQ:PTMN) had its price target cut by investment analysts at Keefe, Bruyette & Woods from $19.00 to $18.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 0.56% from the stock’s previous close.

Portman Ridge Finance Price Performance

PTMN opened at $17.90 on Thursday. Portman Ridge Finance has a 1 year low of $16.27 and a 1 year high of $20.84. The company’s 50 day simple moving average is $18.31 and its 200 day simple moving average is $19.01. The stock has a market capitalization of $164.86 million, a PE ratio of 48.38 and a beta of 1.02. The company has a debt-to-equity ratio of 1.41, a quick ratio of 4.40 and a current ratio of 3.14.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in shares of Portman Ridge Finance in the 2nd quarter worth about $59,000. Sequoia Financial Advisors LLC acquired a new position in Portman Ridge Finance during the third quarter valued at approximately $251,000. Ritholtz Wealth Management purchased a new stake in Portman Ridge Finance during the second quarter worth approximately $272,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Portman Ridge Finance in the second quarter worth $787,000. Finally, Founders Financial Alliance LLC raised its stake in shares of Portman Ridge Finance by 74.2% in the 2nd quarter. Founders Financial Alliance LLC now owns 49,954 shares of the company’s stock valued at $980,000 after acquiring an additional 21,273 shares during the period. Institutional investors and hedge funds own 30.14% of the company’s stock.

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.