Portman Ridge Fin Corp Stock Price, News & Analysis

Portman Ridge Finance Corporation (PTMN) reported its second-quarter results for 2022, highlighting a net asset value (NAV) of $261.7 million ($27.26 per share), down from $278.3 million ($28.76 per share) in Q1 2022. Total investment income was $15.0 million, with net investment income (NII) at $5.5 million ($0.57 per share). The company reduced its non-accrual investments from six to three and repurchased shares worth approximately $3.0 million year-to-date. It also refinanced its credit facility, reducing capital costs. A distribution of $0.63 per share for Q3 was declared.

Portman Ridge Finance Corporation (PTMN) has scheduled its second quarter financial results announcement for August 9, 2022, after the market closes. A conference call to discuss these results will follow on August 10, 2022, at 9:00 a.m. ET. Investors can join by dialing (646) 307-1963, using conference ID 7102603, or via a live audio webcast on the company's website. Portman Ridge operates as a business development company, focusing on middle market investments including term loans and mezzanine investments.

Portman Ridge Finance Corporation (Nasdaq: PTMN) announced its management will present at the LD Micro Invitational Conference on June 7, 2022, at 5:00 PM PT at the Four Seasons Westlake Village in California. Investors can access the live presentation via the provided weblink. Management will also engage with investors throughout the day. For further details, investors can download the presentation PDF from the Investor Relations section on Portman Ridge's website.

Portman Ridge Finance Corporation (Nasdaq: PTMN) announced its Q1 2022 financial results, showing a net asset value of $278.3 million ($28.76/share), nearly unchanged from Q4 2021. Total investment income was $16.9 million, primarily from interest income, with net investment income at $7.9 million ($0.82/share). The company refinanced its credit facility with JPMorgan Chase, lowering its capital costs and extending the maturity date. A quarterly distribution of $0.63 per share has been declared for Q2 2022.

Portman Ridge Finance Corporation (Nasdaq: PTMN) will announce its financial results for Q1 2022 after market close on May 10, 2022. A conference call is scheduled for May 11, 2022 at 9:00 a.m. ET to discuss the results. Interested parties can join by phone at (866) 757-5630 or via a live audio webcast at the Company’s website. A replay will be available starting from 12:00 p.m. ET on the same day.

Portman Ridge is a publicly traded investment company focused on middle market investments.

Portman Ridge Finance Corporation (Nasdaq: PTMN) has announced a new Rule 10b5-1 stock trading plan to facilitate the repurchase of its common stock as part of its recently re-authorized $10 million share repurchase program. Share buybacks will occur in the open market per prevailing prices. The program, valid until March 31, 2023, aims to enhance shareholder value. An independent broker-dealer will execute these repurchases. It is noted, however, that there is no guarantee on specific repurchase amounts or positive stock price impacts.

Portman Ridge Finance Corporation (PTMN) announced a quarterly distribution increase to $0.63 per share for Q1 2022, up from $0.62 in Q4 2021. As of December 31, 2021, net asset value (NAV) rose to $280.1 million ($28.88 per share), bolstered by significant growth in total investment income, which hit $80.1 million, compared to $42.8 million in 2020. Net investment income also substantially increased to $42.0 million ($4.92 per share) from $17.0 million ($3.40 per share) a year earlier. The company's strategic focus on floating rate investments is expected to enhance investment income amid rising interest rates.

Portman Ridge Finance Corporation (Nasdaq: PTMN) is set to report its financial results for the fourth quarter and fiscal year ended December 31, 2021, on March 10, 2022, after market close. A conference call will follow on March 11, 2022, at 9:00 a.m. Eastern Time to discuss these results. Interested parties can join the call by phone or via a live audio webcast accessible on the Company's website. Portman Ridge operates as a business development company, managing a portfolio of loans, mezzanine investments, and equity securities in middle market companies.

Portman Ridge Finance Corporation (Nasdaq: PTMN) will participate in the Sidoti Virtual Small Cap Conference on January 19-20, 2022. CEO Ted Goldthorpe and CIO Patrick Schafer will present and host one-on-one investor meetings. The presentation starts at 1:45 PM ET on January 19, 2022, accessible live via a provided link. The company's investor relations section on their website will also host a webcast. Portman Ridge focuses on middle market investments, managing a portfolio of loans and equities, and is regulated as a business development company.