I'm LongbridgeAI, I can summarize articles.Portman Ridge Finance (NASDAQ:PTMN) shares rose 0.2% to $12.55 during mid-day trading, with a trading volume increase of 36% from the average. The company has a market cap of $165.56 million and a price-to-earnings ratio of -13.49. Institutional investors have increased their stakes, with Royal Bank of Canada raising its holdings by 69.9%. Portman Ridge focuses on providing financing solutions to U.S. middle-market companies and is regulated as a Business Development Company (BDC). Analysts currently rate the stock as a Hold, suggesting better investment options are available.
Portman Ridge Finance Corporation (NASDAQ:PTMN - Get Free Report) shares were up 0.2% during mid-day trading on Monday . The stock traded as high as $12.70 and last traded at $12.55. Approximately 71,850 shares traded hands during mid-day trading, an increase of 36% from the average daily volume of 52,829 shares. The stock had previously closed at $12.52.
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Portman Ridge Finance Trading Up 0.2%
The company's fifty day moving average is $12.40 and its two-hundred day moving average is $12.21. The company has a quick ratio of 3.11, a current ratio of 3.11 and a debt-to-equity ratio of 1.54. The stock has a market cap of $165.56 million, a price-to-earnings ratio of -13.49 and a beta of 0.60.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada increased its holdings in shares of Portman Ridge Finance by 69.9% in the 1st quarter. Royal Bank of Canada now owns 16,354 shares of the company's stock valued at $235,000 after acquiring an additional 6,730 shares during the last quarter. Winnow Wealth LLC acquired a new position in Portman Ridge Finance in the second quarter valued at approximately $201,000. Virtus Investment Advisers LLC increased its stake in Portman Ridge Finance by 15.3% in the second quarter. Virtus Investment Advisers LLC now owns 43,619 shares of the company's stock valued at $546,000 after purchasing an additional 5,775 shares during the last quarter. Marshall Wace LLP acquired a new stake in Portman Ridge Finance during the second quarter worth approximately $822,000. Finally, Marex Group plc acquired a new stake in Portman Ridge Finance during the second quarter worth approximately $1,029,000. 30.14% of the stock is owned by institutional investors and hedge funds.
About Portman Ridge Finance
(Get Free Report)Portman Ridge Finance NASDAQ: PTMN is a publicly traded, closed-end management investment company that has elected to be regulated as a Business Development Company (BDC) under the Investment Company Act of 1940. Since its formation in 2015, the firm has focused on providing customized financing solutions to U.S. middle-market companies, including senior secured loans, unitranche instruments, mezzanine debt and select equity co‐investments. Its flexible approach allows Portman Ridge to structure transactions that address a range of sponsor-backed and privately negotiated financing needs.
The company's portfolio spans a variety of industry sectors such as healthcare, business services, consumer goods and industrials.
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