Portman Ridge FinanceNASDAQ: PTMN

Portman Ridge Finance Corporation will announce its financial results for the first quarter of 2024 on May 8, 2024, after the market closes. A conference call will follow on May 9, 2024, at 9:00 a.m.

BCPC created PTMN by purchasing several underperforming BDCs with the goal of selling off the Legacy investments and replacing them with Core MM Loans ("Portfolio Optimization Process"). The Portfolio Optimization Process is almost completed, with Legacy investments only making up 27% of its investments. The process hasn't come without pain. PTMN incurred realized and unrealized losses of $4.39/share and $2.76/share over the last 2 years. Most of the losses were related to its Legacy investments.

NEW YORK, Jan. 17, 2024 (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (Nasdaq: PTMN) (“Portman Ridge” or the “Company”) to release its financial results for the fourth quarter and full year ended December 31, 2023, on Wednesday, March 13, 2024, after market close. The Company will host a conference call on Thursday, March 14, 2024, at 9:00 a.m.

Portman Ridge Finance is a small business development company investing in middle market businesses across various sectors. The company's portfolio at fair value has been falling with its net asset value also experiencing weakness but with buybacks helping to repair the per share figure. A 15% dividend yield that's 109% covered by fiscal 2023 third quarter net investment income is under pressure to open the specter of a dividend cut this year.

Portman Ridge Finance Corporation (NASDAQ:PTMN ) Q3 2023 Results Conference Call November 9, 2023 4:00 PM ET Company Participants Ted Goldthorpe - Chairman, CEO and President Patrick Schafer - Chief Investment Officer Jason Roos - CFO, Secretary and Treasurer Conference Call Participants Paul Johnson - KBW Christopher Nolan - Ladenburg Thalmann Steven Martin - Slater Operator Welcome to Portman Ridge Finance Corporation's Third Quarter 2023 Earnings Conference Call. An earnings press release was distributed yesterday, November 8, after market close.

Portman Ridge (PTMN) came out with quarterly earnings of $0.83 per share, missing the Zacks Consensus Estimate of $0.84 per share. This compares to earnings of $0.57 per share a year ago.

Portman Ridge Finance has been struggling to outperform its peers and the S&P 500, with its stock underperforming over the past nine months. Despite a rise in total investment, core investment, and net investment income in Q1 2023, the company saw a decline in total investments at fair value and an increase in non-accruals. The company is still absorbing costs and monetizing assets from M&A activities between 2019 and 2021, and analysts rate the stock as underperforming with a negative view.

Portman Ridge (PTMN) could produce exceptional returns because of its solid growth attributes.

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