Keefe, Bruyette & Woods Cuts Portman Ridge Finance (NASDAQ:PTMN) Price Target to $18.00

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

Portman Ridge Finance Trading Down 0.3 %

NASDAQ:PTMN opened at $17.90 on Thursday. The company has a market capitalization of $164.86 million, a P/E ratio of 48.38 and a beta of 1.02. The stock’s 50 day moving average price is $18.33 and its 200 day moving average price is $19.02. The company has a debt-to-equity ratio of 1.41, a quick ratio of 4.40 and a current ratio of 3.14. Portman Ridge Finance has a 52 week low of $16.27 and a 52 week high of $20.84.

Hedge Funds Weigh In On Portman Ridge Finance

Institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC acquired a new position in Portman Ridge Finance in the 2nd quarter valued at $59,000. Sequoia Financial Advisors LLC acquired a new stake in Portman Ridge Finance in the 3rd quarter valued at approximately $251,000. Ritholtz Wealth Management bought a new position in Portman Ridge Finance in the 2nd quarter worth approximately $272,000. Redhawk Wealth Advisors Inc. acquired a new position in shares of Portman Ridge Finance during the second quarter worth approximately $787,000. Finally, Founders Financial Alliance LLC lifted its holdings in shares of Portman Ridge Finance by 74.2% during the second quarter. Founders Financial Alliance LLC now owns 49,954 shares of the company’s stock worth $980,000 after buying an additional 21,273 shares during the last quarter. 30.14% of the stock is currently owned by 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.