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 the month of 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 short-interest ratio is presently 0.9 days. Approximately 0.6% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods cut their price target 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 Price Performance

NASDAQ:PTMN traded up $0.03 during trading hours on Friday, hitting $17.31. The stock had a trading volume of 25,961 shares, compared to its average volume of 33,090. The company has a 50 day simple moving average of $16.62 and a two-hundred day simple moving average of $17.68. The company has a debt-to-equity ratio of 1.41, a current ratio of 3.14 and a quick ratio of 3.14. Portman Ridge Finance has a one year low of $15.94 and a one year high of $20.84. The firm has a market capitalization of $159.48 million, a price-to-earnings ratio of 46.79 and a beta of 1.01.

Institutional Trading of Portman Ridge Finance

Hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its holdings in shares of Portman Ridge Finance by 1,340.3% during the 3rd quarter. International Assets Investment Management LLC now owns 43,166 shares of the company’s stock worth $801,000 after acquiring an additional 40,169 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Portman Ridge Finance during the 3rd quarter worth $251,000. Raymond James Financial Inc. bought a new stake in shares of Portman Ridge Finance during the 4th quarter worth $1,702,000. Virtus ETF Advisers LLC lifted its holdings in shares of Portman Ridge Finance by 25.3% during 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 during the last quarter. Finally, Trexquant Investment LP lifted its holdings in shares of Portman Ridge Finance by 50.3% during 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 during the last quarter. 30.14% of the stock is owned by institutional investors.

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.