Mackenzie Financial Corp Sells 20,585 Shares of Portman Ridge Finance Co. (NASDAQ:PTMN)

Mackenzie Financial Corp lowered its position in shares of Portman Ridge Finance Co. (NASDAQ:PTMNGet Rating) by 37.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,385 shares of the company’s stock after selling 20,585 shares during the period. Mackenzie Financial Corp owned about 0.35% of Portman Ridge Finance worth $806,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Confluence Investment Management LLC lifted its stake in Portman Ridge Finance by 19.1% during the second quarter. Confluence Investment Management LLC now owns 62,459 shares of the company’s stock worth $1,463,000 after purchasing an additional 10,011 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Portman Ridge Finance by 30.6% in the 1st quarter. Advisors Asset Management Inc. now owns 83,805 shares of the company’s stock valued at $2,026,000 after acquiring an additional 19,651 shares during the last quarter. Finally, Clayton Partners LLC lifted its stake in shares of Portman Ridge Finance by 29.3% in the 1st quarter. Clayton Partners LLC now owns 269,468 shares of the company’s stock valued at $6,516,000 after acquiring an additional 61,006 shares during the last quarter. Institutional investors own 27.89% of the company’s stock.

Analysts Set New Price Targets

Separately, TheStreet lowered Portman Ridge Finance from a “b-” rating to a “c” rating in a research note on Monday, August 22nd.

Portman Ridge Finance Stock Down 0.2 %

Shares of NASDAQ:PTMN opened at $22.00 on Thursday. Portman Ridge Finance Co. has a 1 year low of $19.26 and a 1 year high of $25.55. The company has a market cap of $211.40 million, a PE ratio of -19.82 and a beta of 0.89. The company has a debt-to-equity ratio of 1.45, a current ratio of 3.89 and a quick ratio of 3.89. The stock’s 50-day moving average is $21.00 and its 200 day moving average is $22.32.

Portman Ridge Finance Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Thursday, November 24th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 12.18%. The ex-dividend date of this dividend is Tuesday, November 22nd. This is an increase from Portman Ridge Finance’s previous quarterly dividend of $0.63. Portman Ridge Finance’s payout ratio is currently -227.02%.

Portman Ridge Finance Profile

(Get Rating)

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, buyout in middle market companies. It also makes acquisitions in businesses complementary to the firm's business.

See Also

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Institutional Ownership by Quarter for Portman Ridge Finance (NASDAQ:PTMN)

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