Analysts Offer Predictions for Portman Ridge Finance Co.’s Q1 2024 Earnings (NASDAQ:PTMN)

Portman Ridge Finance Co. (NASDAQ:PTMN – Get Rating) – Oppenheimer issued their Q1 2024 EPS estimates for shares of Portman Ridge Finance in a note issued to investors on Monday, March 13th. Oppenheimer analyst M. Penn forecasts that the company will post earnings per share of $0.80 for the quarter. The consensus estimate for Portman Ridge Finance’s current full-year earnings is $3.09 per share. Oppenheimer also issued estimates for Portman Ridge Finance’s Q2 2024 earnings at $0.77 EPS, Q3 2024 earnings at $0.76 EPS, Q4 2024 earnings at $0.75 EPS and FY2024 earnings at $3.09 EPS.

Portman Ridge Finance Stock Up 2.8 %

NASDAQ:PTMN opened at $21.67 on Tuesday. The firm’s 50 day simple moving average is $22.67 and its 200 day simple moving average is $21.93. The company has a debt-to-equity ratio of 1.61, a current ratio of 2.87 and a quick ratio of 2.87. Portman Ridge Finance has a one year low of $19.26 and a one year high of $24.49. The company has a market cap of $206.99 million, a PE ratio of -9.94 and a beta of 0.83.

Institutional Investors Weigh In On Portman Ridge Finance

Several hedge funds have recently added to or reduced their stakes in the business. Repertoire Partners LP boosted its position in Portman Ridge Finance by 5.1% during the 3rd quarter. Repertoire Partners LP now owns 1,139,124 shares of the company’s stock worth $23,922,000 after buying an additional 55,537 shares during the period. Clayton Partners LLC lifted its position in shares of Portman Ridge Finance by 2.5% in the 3rd quarter. Clayton Partners LLC now owns 276,258 shares of the company’s stock worth $5,801,000 after purchasing an additional 6,868 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Portman Ridge Finance by 24.2% in the 4th quarter. Advisors Asset Management Inc. now owns 154,003 shares of the company’s stock worth $3,542,000 after purchasing an additional 30,008 shares during the period. Bulldog Investors LLP lifted its position in shares of Portman Ridge Finance by 11.9% in the 2nd quarter. Bulldog Investors LLP now owns 126,665 shares of the company’s stock worth $2,968,000 after purchasing an additional 13,451 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of Portman Ridge Finance by 6.0% in the 2nd quarter. Legal & General Group Plc now owns 55,834 shares of the company’s stock worth $1,308,000 after purchasing an additional 3,153 shares during the period. 28.46% of the stock is currently owned by institutional investors and hedge funds.

Portman Ridge Finance Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Monday, March 20th will be given a dividend of $0.68 per share. The ex-dividend date is Friday, March 17th. This is an increase from Portman Ridge Finance’s previous quarterly dividend of $0.67. This represents a $2.72 annualized dividend and a yield of 12.55%. Portman Ridge Finance’s dividend payout ratio (DPR) is currently -124.77%.

Portman Ridge Finance Company Profile

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Portman Ridge Finance is an investment company. They invest in senior secured term loans and mezzanine debt primarily in privately held middle market companies, asset management companies, and debt and subordinated securities.