Portman Ridge Fin Corp Stock Price, News & Analysis

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.

Portman Ridge Finance Corporation (PTMN) reported third quarter 2021 financial results, including a net investment income of $1.50 per share, totaling $13.7 million. The net asset value (NAV) per share rose to $29.71, up from $29.28 last quarter. The company announced a quarterly distribution of $0.62 per share for Q4 2021, reflecting a $0.02 increase. Total investments valued $562 million excluded derivatives, with $455 million in debt securities. In Q3, the company redeemed $28.75 million of HCAP Notes and repurchased $1.4 million of its shares.

Portman Ridge Finance Corporation (Nasdaq: PTMN) will announce its third-quarter financial results on November 4, 2021, after market close. A conference call to discuss these results is scheduled for November 5, 2021, at 11:00 a.m. ET. Interested participants can join by phone or via a live audio webcast on the company’s website. Portman Ridge, an externally managed investment company, focuses on middle market investments, including term loans and mezzanine investments.

Portman Ridge Finance Corporation (Nasdaq: PTMN) announced that its 1-for-10 reverse stock split became effective on August 26, 2021. This split reduces the number of issued shares, with shareholders receiving one share for every ten they own. The split was approved during the annual stockholders’ meeting on June 7, 2021. The authorized shares were also reduced from 100 million to 20 million. No fractional shares will be issued; instead, cash payments will substitute any fractional ownership.

Portman Ridge Finance Corporation (Nasdaq: PTMN) announced a 1-for-10 reverse stock split effective August 26, 2021. This decision, approved by shareholders on June 7, 2021, aims to consolidate ten shares of common stock into one. The company's authorized share count will decrease from 100 million to 20 million. The reverse stock split does not affect shareholders' percentage interest, aside from adjustments for fractional shares, which will be compensated in cash. The company operates as a business development company, focusing on middle market investments.

Portman Ridge Finance Corporation (NASDAQ: PTMN) reported its Q2 2021 financial results, announcing a quarterly distribution of $0.06 per share, payable on August 31, 2021. The company’s net investment income rose to $11.7 million, translating to $0.15 per share, boosted by higher debt securities due to the successful HCAP merger. The net asset value per share slightly increased to $2.93. A 1-for-10 reverse stock split was approved to enhance stock liquidity, expected to complete in Q3 2021.