Portman Ridge Finance Co. (NASDAQ:PTMN) Short Interest Up 72.0% in February

Portman Ridge Finance Co. (NASDAQ:PTMN) was the target of a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 89,800 shares, a growth of 72.0% from the January 31st total of 52,200 shares. Currently, 1.0% of the shares of the company are sold short. Based on an average trading volume of 46,800 shares, the days-to-cover ratio is presently 1.9 days.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods cut their price target on 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

Shares of Portman Ridge Finance stock traded down $0.33 on Tuesday, reaching $16.92. The stock had a trading volume of 39,841 shares, compared to its average volume of 33,747. The business’s 50 day moving average is $16.79 and its two-hundred day moving average is $17.55. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 1.41. Portman Ridge Finance has a 1 year low of $15.94 and a 1 year high of $20.84. The company has a market cap of $155.88 million, a P/E ratio of 45.73 and a beta of 1.01.

Institutional Trading of Portman Ridge Finance

Several institutional investors and hedge funds have recently bought and sold shares of the company. Two Sigma Investments LP grew its position in shares of Portman Ridge Finance by 25.3% during the 4th quarter. Two Sigma Investments LP now owns 106,165 shares of the company’s stock valued at $1,735,000 after purchasing an additional 21,425 shares in the last quarter. Two Sigma Advisers LP grew its position in Portman Ridge Finance by 39.5% during the fourth quarter. Two Sigma Advisers LP now owns 178,200 shares of the company’s stock worth $2,912,000 after buying an additional 50,500 shares in the last quarter. Bulldog Investors LLP increased its stake in Portman Ridge Finance by 155.0% in the 4th quarter. Bulldog Investors LLP now owns 216,546 shares of the company’s stock worth $3,539,000 after acquiring an additional 131,630 shares during the last quarter. Virtus ETF Advisers LLC raised its holdings in shares of Portman Ridge Finance by 25.3% in the 4th quarter. Virtus ETF Advisers LLC now owns 29,852 shares of the company’s stock valued at $488,000 after acquiring an additional 6,031 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Portman Ridge Finance during the 4th quarter valued at about $1,702,000. 30.14% of the stock is currently owned by hedge funds and other institutional investors.

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.