Portman Ridge Finance (NASDAQ:PTMN) Posts Earnings Results, Misses Estimates By $0.01 EPS

Portman Ridge Finance (NASDAQ:PTMN) issued its quarterly earnings data on Thursday. The company reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.01), Fidelity Earnings reports. Portman Ridge Finance had a positive return on equity of 2.41% and a negative net margin of 86.64%. The company had revenue of $7.08 million for the quarter.

PTMN stock traded up $0.05 during mid-day trading on Friday, reaching $2.25. The company’s stock had a trading volume of 110,400 shares, compared to its average volume of 135,511. The business’s 50 day moving average price is $2.24 and its 200 day moving average price is $2.45. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.88. Portman Ridge Finance has a 12 month low of $2.10 and a 12 month high of $3.80. The company has a market cap of $81.81 million, a price-to-earnings ratio of 8.33 and a beta of 0.72.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.24 dividend on an annualized basis and a yield of 10.67%. Portman Ridge Finance’s payout ratio is currently 88.89%.

In other Portman Ridge Finance news, CEO Edward J. Goldthorpe acquired 11,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were acquired at an average price of $2.29 per share, with a total value of $26,335.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders acquired 32,639 shares of company stock worth $73,509. Insiders own 6.30% of the company’s stock.

A number of brokerages have recently issued reports on PTMN. LADENBURG THALM/SH SH upgraded Portman Ridge Finance from a “neutral” rating to a “buy” rating in a research report on Friday. Zacks Investment Research downgraded Portman Ridge Finance from a “hold” rating to a “sell” rating in a report on Tuesday, October 8th. TheStreet downgraded Portman Ridge Finance from a “c-” rating to a “d+” rating in a report on Wednesday, July 17th. Finally, ValuEngine upgraded Portman Ridge Finance from a “sell” rating to a “hold” rating in a report on Friday, November 1st.

Portman Ridge Finance Company Profile

Portman Ridge Finance Corp. is a private equity fund and non-diversified closed-end investment company that invests in middle market companies generating consistent cash flows located in North America. It targets companies operating across a broad range of sectors such as aerospace and defense, automotive, beverage, food and tobacco, broadcasting and entertainment, buildings and real estate, personal and cargo transport, chemicals, plastics and rubber, containers, packaging and glass, diversified or conglomerate service, ecological, electronics, finance, and healthcare.

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Earnings History for Portman Ridge Finance (NASDAQ:PTMN)

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