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 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
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