Portman Ridge Finance CorpPTMN
PTMN
About: Portman Ridge Finance Corp Inc is a non-diversified closed-end investment company. The company originates, structures, and invests in secured term loans, bonds or notes, and mezzanine debt primarily in privately-held middle market companies but may also invest in other investments such as loans to publicly traded companies, high-yield bonds, and distressed debt securities. The company's investment objective in the Debt securities portfolio is to generate current income and, to a lesser extent, capital appreciation from the investments in senior secured term loans, mezzanine debt, and selected equity investments in privately-held middle market companies.
Employees: 13
0
Funds holding %
of 7,296 funds
–
Analysts bullish %
Fund manager confidence
Based on 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)
9% less repeat investments, than reductions
Existing positions increased: 10 | Existing positions reduced: 11
2.59% less ownership
Funds ownership: 16.61% [Q4 2024] → 14.03% (-2.59%) [Q1 2025]
7% less funds holding
Funds holding: 41 [Q4 2024] → 38 (-3) [Q1 2025]
14% less call options, than puts
Call options by funds: $94K | Put options by funds: $109K
26% less capital invested
Capital invested by funds: $25M [Q4 2024] → $18.5M (-$6.48M) [Q1 2025]
29% less first-time investments, than exits
New positions opened: 5 | Existing positions closed: 7
100% less funds holding in top 10
Funds holding in top 10: 1 [Q4 2024] → 0 (-1) [Q1 2025]
Research analyst outlook
1 Wall Street Analyst provided 1 year price targets over the past 3 months
Low target
$14
21%
upside
Avg. target
$14
21%
upside
High target
$14
21%
upside
1 analyst rating
0 positive
0%
1 neutral
100%
0 negative
0%
Keefe, Bruyette & Woods Paul Johnson | 21%upside $14 | Market Perform Maintained | 8 Apr 2025 |
Financial journalist opinion
Based on 4 articles about PTMN published over the past 30 days
Neutral
Seeking Alpha
1 day ago
BDC Weekly Review: Questions About BDC Income And Price Trends
We take a look at the action in business development companies through the first week of June and highlight some of the key themes we are watching. BDC are flat year-to-date on average, with valuations below historical averages. Net investment income declines are sector-wide, driven by rate changes, not management issues; NII is expected to stabilize as rates have leveled off.
Neutral
GlobeNewsWire
1 week ago
Portman Ridge Announces Change of Date to the Special Meeting of Stockholders to Allow Additional Time for Stockholders to Vote “FOR” the Share Issuance Proposal
Stockholders of PTMN Who Have Voted Thus Far Have Expressed Strong Support for the Proposed Merger Both Leading Independent Proxy Advisors, Institutional Shareholder Services (“ISS”) and Glass Lewis & Co. (“Glass Lewis”), Have Recommended PTMN Stockholders Vote “FOR” the Share Issuance Proposal NEW YORK, June 05, 2025 (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (NASDAQ: PTMN) (“Portman Ridge” or “PTMN”) announced today that its Special Meeting of Stockholders (the “PTMN Special Meeting”) will take place on June 20, 2025, rather than June 6, 2025, to provide stockholders with additional time to cast their vote to approve the share issuance proposal in connection with the proposed merger of Logan Ridge Finance Corporation (NASDAQ: LRFC) (“Logan Ridge” or “LRFC”) with and into PTMN (the “Share Issuance Proposal”). Stockholders of PTMN can attend the meeting and cast their votes by following the instructions outlined in the amended joint proxy statement.
Negative
Seeking Alpha
1 week ago
Portman Ridge Finance: Q1 Earnings Reveal More Downside Risks
I maintain my sell rating on PTMN due to weak earnings, ongoing NAV decline, and deteriorating dividend coverage, despite a large discount to NAV. PTMN's portfolio quality is slipping, with non-accruals rising to 2.6% and limited new investment activity, signaling ongoing downside risk. The current 16.1% dividend yield is barely covered by earnings, leaving little margin for error and raising concerns about future payout sustainability.
Neutral
Business Wire
4 weeks ago
LOGAN RIDGE INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Logan Ridge Finance Corporation - LRFC
NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Logan Ridge Finance Corporation (NasdaqGS: LRFC) to Portman Ridge Finance Corporation (NasdaqGS: PTMN). Under the terms of the proposed transaction, shareholders of Logan Ridge will receive 1.50 newly issued shares of Portman for each share of Logan Ridge that they own. KSF is seeking to determine whether this.
Neutral
Seeking Alpha
1 month ago
Portman Ridge Finance Corporation (PTMN) Q1 2025 Earnings Call Transcript
Portman Ridge Finance Corporation (NASDAQ:PTMN ) Q1 2025 Earnings Conference Call May 9, 2025 10:00 AM ET Company Participants Ted Goldthorpe - Chief Executive Officer, President & Director Patrick Schafer - Chief Investment Officer Brandon Satoren - Chief Financial Officer Conference Call Participants Erik Zwick - Lucid Capital Markets Christopher Nolan - Ladenburg Steven Martin - Slater Capital Lee Crockett - Private Investor Operator Welcome to Portman Ridge Finance Corporation's First Quarter March 31, 2025 Earnings Conference Call. An earnings press release was distributed yesterday, May 08, 2025, after the close of the market.
Negative
Zacks Investment Research
1 month ago
Portman Ridge (PTMN) Q1 Earnings and Revenues Lag Estimates
Portman Ridge (PTMN) came out with quarterly earnings of $0.47 per share, missing the Zacks Consensus Estimate of $0.60 per share. This compares to earnings of $0.67 per share a year ago.
Neutral
GlobeNewsWire
1 month ago
Portman Ridge Finance Corporation Announces First Quarter 2025 Financial Results
Reports Net Investment Income of $0.47 Per Share and Net Asset Value of $18.85 Per Share Deployment of Approximately $17.5 Million and Sales and Repayments of Approximately $15.7 Million for Net Deployment of Approximately $1.8 Million Announces Second Quarter 2025 Quarterly Base Distribution of $0.47 Per Share Investors are Encouraged to Vote FOR the Acquisition of Logan Ridge Finance Corporation NEW YORK, May 08, 2025 (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (Nasdaq: PTMN) (the “Company” or “Portman Ridge”) announced today its financial results for the first quarter ended March 31, 2025. First Quarter 2025 Highlights Total investment income for the first quarter of 2025 was $12.1 million, down from $14.4 million in the fourth quarter of 2024, due to the reversal of previously accrued income after a portfolio company was placed on non-accrual status in the first quarter of 2025.
Positive
Seeking Alpha
1 month ago
Two BDCs For 60 Cents On The Dollar: 1 To Buy And 1 To Avoid
BDCs have gone through a notable repricing. Some of them are trading now at a deep discount territory. These deep discounts enhance the risk to reward ratios, especially for those that have been unfairly punished.
Neutral
GlobeNewsWire
2 months ago
Portman Ridge Finance Corporation Schedules First Quarter 2025 Earnings Release and Conference Call
NEW YORK, April 03, 2025 (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (Nasdaq: PTMN) (“Portman Ridge” or the “Company”) to release its financial results for the first quarter ended March 31, 2025, on Thursday, May 8, 2025, after market close. The Company will host a conference call on Friday, May 9, 2025, at 10:00 a.m.
Negative
Seeking Alpha
2 months ago
Portman Ridge Finance: NAV Continues To Slide (Rating Downgrade)
PTMN's NAV and earnings are declining, with poor new investment activity and a recent 32% dividend cut, prompting a downgrade to a sell rating. The portfolio is diverse and mostly secured, but non-accruals and growing PIK income indicate quality issues and distressed borrowers. PTMN's price is inversely related to interest rates, and with rates expected to remain high, the stock is likely to continue underperforming.
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