Insider Selling: Portman Ridge Finance Co. (NASDAQ:PTMN) Major Shareholder Sells $72,178.56 in Stock

Portman Ridge Finance Co. (NASDAQ:PTMN) major shareholder Repertoire Partners Lp sold 4,177 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $17.28, for a total transaction of $72,178.56. Following the completion of the sale, the insider now directly owns 375,848 shares of the company’s stock, valued at $6,494,653.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Repertoire Partners Lp also recently made the following trade(s):

• On Friday, November 10th, Repertoire Partners Lp sold 69,110 shares of Portman Ridge Finance stock. The stock was sold at an average price of $17.46, for a total transaction of $1,206,660.60.
• On Monday, October 9th, Repertoire Partners Lp sold 2,276 shares of Portman Ridge Finance stock. The stock was sold at an average price of $19.15, for a total transaction of $43,585.40.

Portman Ridge Finance Trading Down 1.1 %

Shares of PTMN stock opened at $17.00 on Thursday. Portman Ridge Finance Co. has a 52-week low of $16.75 and a 52-week high of $23.72. The company has a debt-to-equity ratio of 1.48, a quick ratio of 3.24 and a current ratio of 3.24. The company has a 50-day simple moving average of $18.36 and a two-hundred day simple moving average of $19.39. The company has a market capitalization of $160.65 million, a price-to-earnings ratio of -20.73 and a beta of 0.85.

Portman Ridge Finance Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Monday, November 20th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 16.24%. The ex-dividend date is Friday, November 17th. Portman Ridge Finance’s payout ratio is -336.58%.

Institutional Investors Weigh In On Portman Ridge Finance

Institutional investors have recently added to or reduced their stakes in the company. Repertoire Partners LP grew its position in shares of Portman Ridge Finance by 1.3% during the 2nd quarter. Repertoire Partners LP now owns 1,177,325 shares of the company’s stock valued at $23,370,000 after acquiring an additional 14,991 shares during the period. Clayton Partners LLC grew its position in shares of Portman Ridge Finance by 0.4% during the 1st quarter. Clayton Partners LLC now owns 278,071 shares of the company’s stock valued at $5,731,000 after acquiring an additional 1,079 shares during the period. Advisors Asset Management Inc. grew its position in shares of Portman Ridge Finance by 5.4% during the 1st quarter. Advisors Asset Management Inc. now owns 162,245 shares of the company’s stock valued at $3,344,000 after acquiring an additional 8,242 shares during the period. Punch & Associates Investment Management Inc. grew its position in shares of Portman Ridge Finance by 2.6% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 119,115 shares of the company’s stock valued at $2,293,000 after acquiring an additional 3,074 shares during the period. Finally, Raymond James & Associates bought a new position in shares of Portman Ridge Finance during the 2nd quarter valued at approximately $2,083,000. 28.56% of the stock is 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.