Welcome to our dedicated page for Portman Ridge Finance Corporation news (Ticker: PTMN), a resource for investors and traders seeking the latest updates and insights on Portman Ridge Finance Corporation stock.
Portman Ridge Finance Corporation (NASDAQ: PTMN) is a non-diversified closed-end investment company that specializes in originating, structuring, and investing in secured term loans, bonds, and mezzanine debt. The company primarily focuses on privately-held middle-market companies but also considers investments in publicly traded companies, high-yield bonds, and distressed debt securities. Established as a leader in debt securities, Portman Ridge aims to generate current income and capital appreciation through strategic investments in senior secured term loans, mezzanine debt, and select equity investments.
Founded with a mission to support mid-sized businesses, Portman Ridge offers a range of financial solutions tailored to meet the complex needs of its clients. Recent achievements include successful mergers with Garrison Capital Inc. and Harvest Capital Credit Corporation, which have enhanced the company's investment portfolio and operational efficiencies. The company's financial condition remains robust, demonstrated by its transparent reporting of core investment income and net investment income, which provide stakeholders with a clear understanding of its financial performance.
Portman Ridge continues to pursue promising investment opportunities and maintain strong partnerships to maximize returns for its investors. With a disciplined approach to investment and risk management, the company remains well-positioned to navigate the complexities of the financial markets. Recent updates include significant financial highlights from the second and third quarters of 2023, and a series of scheduled calls for shareholder engagement and transparency.
For the latest updates and detailed financial reports, stakeholders can refer to the company's scheduled calls and recent news highlights, providing insights into Portman Ridge's ongoing projects and financial health.
Portman Ridge Finance (Nasdaq: PTMN) will release its second quarter financial results for the period ending June 30, 2024, on Thursday, August 8, 2024, after the market close.
A conference call is scheduled for 10:00 a.m. ET on Friday, August 9, 2024, to discuss the results. Participants can join via phone by dialing (646) 307-1963 and using conference ID 9474953.
A live audio webcast of the call will be accessible online, with an archive available afterward in the Investor Relations section of the company's website.
Portman Ridge Finance reported a net investment income of $0.67 per share and net asset value of $22.57 per share for the first quarter of 2024. The company repurchased 51,015 shares for approximately $1.0 million. They announced a quarterly distribution of $0.69 per share for the second quarter of 2024. Portman Ridge continued to grow and diversify its portfolio, with exposure to 29 industries and 103 portfolio companies. Management believes the stock is undervalued and remains committed to increasing shareholder value.
FAQ
What does Portman Ridge Finance Corporation do?
What is the company's investment objective?
How does Portman Ridge Finance Corporation ensure financial transparency?
What are some recent achievements of Portman Ridge Finance Corporation?
How does the company approach investment risk management?
What type of companies does Portman Ridge primarily invest in?
Where is Portman Ridge Finance Corporation headquartered?
How can investors get the latest updates on Portman Ridge Finance Corporation?
What are the company’s financial highlights for recent quarters?
How does Portman Ridge support shareholder engagement?
