Portman Ridge Fin Corp Stock Price, News & Analysis

Portman Ridge Finance Corporation (Nasdaq: PTMN) is set to announce its financial results for the first quarter ended March 31, 2023, on May 10, 2023, after market close. A conference call will follow on May 11, 2023, at 9:00 am ET to discuss the results. Investors can participate by dialing (646) 307-1963 and using conference ID 4553626. A replay of the call will be available from May 11 through May 18, and can also be accessed via an online audio webcast.

Portman Ridge operates as a publicly traded, externally managed investment company, focusing on middle market investments, including term loans and mezzanine investments. The firm is regulated under the Investment Company Act of 1940 and is managed by Sierra Crest Investment Management LLC.

Portman Ridge Finance Corporation (Nasdaq: PTMN) has announced a new Rule 10b5-1 stock trading plan to facilitate the repurchase of its common stock. The company has re-authorized a $10 million share repurchase program, effective March 22, 2023, allowing repurchases until March 31, 2024. An independent broker-dealer will execute the share buybacks based on market conditions. This move aims to enhance shareholder value, although future share price increases are not guaranteed. The company is regulated as a business development company under the Investment Company Act of 1940, managing a diverse investment portfolio.

Portman Ridge Finance Corporation (PTMN) reported a strong financial performance for the fourth quarter and full year 2022, highlighting total investment income of $18.6 million for Q4 2022, up from $17.3 million in Q4 2021. Core investment income rose to $17.7 million, and net investment income (NII) for the fourth quarter was $7.1 million ($0.74 per share). The net asset value (NAV) stood at $232.1 million ($24.23 per share). For the full year 2022, total investment income was $69.6 million, while NII was $28.9 million ($3.00 per share), down from $42.0 million ($4.92 per share) in 2021. The company increased its stockholder distribution to $0.68 per share for Q1 2023, marking consecutive distribution increases.

Portman Ridge Finance Corporation (Nasdaq: PTMN) will announce its financial results for Q4 and fiscal year ended December 31, 2022, on March 9, 2023, post-market. A conference call is scheduled for March 10, 2023, at 9:00 a.m. ET to discuss these results. The Company, regulated as a business development company, focuses on middle-market investments through term loans, mezzanine investments, and selected equity securities. The management is handled by Sierra Crest Investment Management LLC, an affiliate of BC Partners Advisors, LP.

Portman Ridge Finance Corporation (Nasdaq: PTMN) has initiated a new Rule 10b5-1 stock trading plan to facilitate a $10 million share repurchase program. This program allows for the repurchase of shares in the open market as market conditions permit. An independent broker-dealer will execute these transactions. The company’s Board re-authorized this program on March 8, 2022, allowing repurchases until March 31, 2023. However, no assurance is provided that these repurchases will enhance shareholder value or affect market prices positively.

Portman Ridge Finance Corporation (PTMN) reported strong financial results for Q3 2022, with total investment income rising to $19.0 million from $15.0 million in Q2 2022. Core investment income also increased to $17.6 million, while net investment income jumped to $8.4 million ($0.87 per share). Despite a decline in net asset value (NAV) to $251.6 million ($26.18 per share) due to market movements, the company announced a quarterly distribution increase to $0.67 per share for Q4 2022. Overall, the outlook remains positive as the company adapts to rising interest rates.

Portman Ridge Finance Corporation (Nasdaq: PTMN) will announce its third-quarter financial results for the period ending September 30, 2022, on November 8, 2022, after market close. A conference call to discuss these results is scheduled for November 9, 2022, at 9:00 am ET. Interested parties can access the call by dialing (646) 307-1963 or via a live audio webcast on the company's website. Portman Ridge operates as a business development company, focusing on investments in middle market companies.