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

Portman Ridge Finance Co. (NASDAQ:PTMN – Get Rating) – Equities research analysts at Oppenheimer issued their Q1 2024 earnings per share (EPS) estimates for Portman Ridge Finance in a report released on Monday, March 13th. Oppenheimer analyst M. Penn forecasts that the company will earn $0.80 per share 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 %

PTMN opened at $21.67 on Tuesday. The stock has a market cap of $206.99 million, a PE ratio of -9.94 and a beta of 0.83. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 1.61. Portman Ridge Finance has a 52 week low of $19.26 and a 52 week high of $24.49. The business’s fifty day simple moving average is $22.67 and its 200 day simple moving average is $21.93.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. U.S. Capital Wealth Advisors LLC purchased a new stake in Portman Ridge Finance in the fourth quarter worth about $27,000. Morgan Stanley lifted its holdings in Portman Ridge Finance by 39.1% in the fourth quarter. Morgan Stanley now owns 8,040 shares of the company’s stock worth $185,000 after buying an additional 2,260 shares during the period. International Assets Investment Management LLC purchased a new stake in Portman Ridge Finance in the fourth quarter worth about $222,000. Two Sigma Investments LP lifted its holdings in Portman Ridge Finance by 47.9% in the fourth quarter. Two Sigma Investments LP now owns 33,767 shares of the company’s stock worth $777,000 after buying an additional 10,931 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Portman Ridge Finance by 6.0% in the second quarter. Legal & General Group Plc now owns 55,834 shares of the company’s stock worth $1,308,000 after buying an additional 3,153 shares during the period. 28.46% of the stock is owned by institutional investors.

Portman Ridge Finance Increases Dividend

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

About Portman Ridge Finance

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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.