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Portman Ridge Finance Co. (NASDAQ: PTMN – Get a rating) – Oppenheimer investment analysts released their second quarter 2022 earnings per share estimates for Portman Ridge Finance shares in a research note released to investors on Tuesday, July 5. Oppenheimer analyst Penn expects the company to post earnings of $0.67 per share for the quarter. Oppenheimer has a “Market Perform” rating and a price target of $26.00 on the stock. The consensus estimate for Portman Ridge Finance’s current annual earnings is $3.15 per share. Oppenheimer also released estimates for Portman Ridge Finance Q3 2022 earnings at $0.68 EPS, Q4 2022 earnings at $0.69 EPS, fiscal year 2022 earnings at $2.46 EPS, Q1 2023 earnings at $0.70 EPS, Q2 2023 earnings at $0.70 EPS, Q3 2023 earnings at $0.70 EPS, Q4 2023 earnings at $0.71 EPS and FY2023 earnings at 2 $.81 EPS.
Separately, TheStreet upgraded Portman Ridge Finance from a “b-” to a “c+” rating in a Friday, May 13 report.
NASDAQ:PTMN opened at $23.95 on Friday. Portman Ridge Finance has a 12-month low of $21.33 and a 12-month high of $25.97. The stock has a 50-day moving average of $22.80 and a two-hundred-day moving average of $23.74. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt ratio of 1.25. The company has a market capitalization of $232.65 million, a P/E ratio of 9.18 and a beta of 0.97. Portman Ridge Finance (NASDAQ: PTMN – Get a rating) last released its quarterly earnings data on Tuesday, May 10. The company reported EPS of $0.82 for the quarter, reaching the consensus estimate of $0.82. Portman Ridge Finance had a return on equity of 15.19% and a net margin of 28.00%. In the same quarter last year, the company posted earnings per share of $1.10.
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Institutional investors have recently changed their stake in the company. Advisors Asset Management Inc. increased its equity stake in Portman Ridge Finance by 30.6% in Q1. Advisors Asset Management Inc. now owns 83,805 shares of the company worth $2,026,000 after purchasing an additional 19,651 shares in the last quarter. Farmer Steven Patrick acquired a new stock position in Portman Ridge Finance during Q2 worth approximately $1,463,000. Clayton Partners LLC increased its stake in Portman Ridge Finance by 29.3% in the first quarter. Clayton Partners LLC now owns 269,468 shares of the company valued at $6,516,000 after acquiring an additional 61,006 shares in the last quarter. Raymond James & Associates acquired a new position in Portman Ridge Finance in the fourth quarter worth approximately $513,000. Finally, Bulldog Investors LLP increased its stake in Portman Ridge Finance by 2.7% in the fourth quarter. Bulldog Investors LLP now owns 48,369 shares of the company valued at $1,198,000 after acquiring 1,284 additional shares in the last quarter. Institutional investors and hedge funds own 26.29% of the company’s shares.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 7. Shareholders of record on Tuesday, May 24 received a dividend of $0.63 per share. This represents an annualized dividend of $2.52 and a dividend yield of 10.52%. The ex-dividend date was Monday, May 23. Portman Ridge Finance’s dividend payout ratio is currently 96.55%.
Portman Ridge Finance Company Profile (Get a rating)
Portman Ridge Finance Corporation is a business development company specializing in investments in unitranche loans (including late loans), senior loans, junior loans, subordinated debt, equity co-investment, buyout in middle market companies. It also carries out acquisitions in companies complementary to the company’s activity.
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