Portman Ridge Finance (PTMN)

Katonah Management Holdings LLC • Katonah X Management LLC • Katonah 2007-I Management LLC • KCAP Management, LLC • Commodore Holdings, LLC • KCAP Coastal, LLC • Great Lakes KCAP Funding I, LLC • PTMN Sub Holdings LLC • Great Lakes Portman Ridge Funding I, LLC • Kohlberg Capital Funding LLC ...

IRS number

205348000

PTMN stock data

1M 3M 6M 1Y

Analyst ratings and price targets

Last 3 months

Keefe, Bruyette & Woods

Latest filings (excl ownership)

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8-K

Announces Third Quarter 2024 Financial Results

7 Nov 24

Entry into a Material Definitive Agreement

29 Jul 24

8-K

Submission of Matters to a Vote of Security Holders

26 Jun 24

8-K

Announces First Quarter 2024 Financial Results

29 Apr 24

Announces Fourth Quarter and Full Year 2023 Financial Results

13 Mar 24

Announces Third Quarter 2023 Financial Results

8 Nov 23

Transcripts

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PTMN

Earnings call transcript

2024 Q2

9 Aug 24

PTMN

Earnings call transcript

2024 Q1

9 May 24

PTMN

Earnings call transcript

2023 Q4

14 Mar 24

PTMN

Earnings call transcript

2023 Q3

9 Nov 23

PTMN

Earnings call transcript

2023 Q2

10 Aug 23

PTMN

Earnings call transcript

2023 Q2

10 Aug 23

PTMN

Earnings call transcript

2023 Q1

11 May 23

PTMN

Earnings call transcript

2022 Q4

10 Mar 23

PTMN

Earnings call transcript

2022 Q3

9 Nov 22

PTMN

Earnings call transcript

2022 Q2

10 Aug 22

Latest ownership filings

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SC 13G/A

Repertoire Partners LP

Repertoire Partners LP

14 Feb 24

Change in insider ownership

17 Nov 23

Change in insider ownership

14 Nov 23

Change in insider ownership

11 Oct 23

4/A

Change in insider ownership (amended)

10 Oct 23

4/A

Change in insider ownership (amended)

10 Oct 23

SC 13G/A

Repertoire Partners LP

6 Oct 23

Change in insider ownership

5 Oct 23

Financial summary

Financial statements Chart PTMN financial data

Quarter (USD)	Sep 24	Dec 23	Sep 23	Jun 23
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 23	Dec 22	Dec 21	Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	26.78 mm	26.78 mm	26.78 mm	26.78 mm	26.78 mm	26.78 mm
Cash burn (monthly)	14.93 mm	1.61 mm	(no burn)	1.40 mm	(no burn)	(no burn)
Cash used (since last report)	41.66 mm	4.49 mm	n/a	3.89 mm	n/a	n/a
Cash remaining	-14.88 mm	22.28 mm	n/a	22.88 mm	n/a	n/a
Runway (months of cash)	-1.0	13.8	n/a	16.4	n/a	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q2 2024

PTMN institutional ownership history Ownership history

66.2% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	33	35	-5.7%
Opened positions	16	33	-51.5%
Closed positions	18	2	+800.0%
Increased positions	7	0	NEW
Reduced positions	4	0	NEW

13F shares	Current	Prev Q	Change
Total value	27.79 bn	24.67 bn	+12.6%
Total shares	6.25 mm	6.11 mm	+2.3%
Total puts	6.10 k	0.00	NEW
Total calls	12.00 k	26.10 k	-54.0%
Total put/call ratio	0.5	–	–

Largest owners	Shares	Value	Change
Silver Creek Capital Management	3.85 mm	$4.96 mm	0.0%
Sarpa Partners	962.60 k	$23.83 mm	0.0%
Repertoire Partners	504.52 k	$9.90 bn	NEW
Two Sigma Advisers	130.20 k	$2.55 bn	+92.3%
Raymond James & Associates	104.21 k	$2.04 bn	-0.1%
Advisors Asset Management	89.83 k	$1.76 bn	-28.5%
Two Sigma Investments	80.96 k	$1.59 bn	+2.2%
LGEN Legal & General	76.16 k	$1.50 bn	+13.6%
Confluence Investment Management	59.68 k	$1.17 bn	+1.8%
Kennedy Capital Management	53.71 k	$1.05 bn	-31.3%

Largest transactions	Shares	Bought/sold	Change
Repertoire Partners	504.52 k	+504.52 k	NEW
Clayton Partners	0.00	-153.49 k	EXIT
Punch & Associates Investment Management	0.00	-105.22 k	EXIT
Bulldog Investors	0.00	-101.07 k	EXIT
Gables Capital Management	0.00	-62.79 k	EXIT
Two Sigma Advisers	130.20 k	+62.50 k	+92.3%
Connor, Clark & Lunn Investment Management	0.00	-47.31 k	EXIT
Redhawk Wealth Advisors	40.10 k	+40.10 k	NEW
Advisors Asset Management	89.83 k	-35.73 k	-28.5%
BLK BlackRock	0.00	-32.83 k	EXIT

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

PTMN insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
16 Nov 23	Repertoire Partners	Common Stock	Sell	Dispose S	Yes	No	17.075	36,708	626.79 k	275,474
16 Nov 23	Repertoire Partners	Common Stock	Sell	Dispose S	Yes	No	17.2506	4,451	76.78 k	312,182
15 Nov 23	Repertoire Partners	Common Stock	Sell	Dispose S	Yes	No	17.0373	9,884	168.40 k	316,633
14 Nov 23	Repertoire Partners	Common Stock	Sell	Dispose S	Yes	No	17.2962	49,331	853.24 k	326,517
13 Nov 23	Repertoire Partners	Common Stock	Sell	Dispose S	Yes	No	17	1,800	30.60 k	375,848
13 Nov 23	Repertoire Partners	Common Stock	Sell	Dispose S	Yes	No	17	77	1.31 k	377,648
13 Nov 23	Repertoire Partners	Common Stock	Sell	Dispose S	Yes	No	17.5083	2,300	40.27 k	377,725
10 Nov 23	Repertoire Partners	Common Stock	Sell	Dispose S	Yes	No	17.4569	69,110	1.21 mm	380,025
9 Oct 23	Repertoire Partners	Common Stock	Sell	Dispose S	Yes	No	19.1818	1,196	22.94 k	449,135
9 Oct 23	Repertoire Partners	Common Stock	Sell	Dispose S	Yes	No	19.1094	1,080	20.64 k	450,331

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

News

From Benzinga Pro

Keefe, Bruyette & Woods Maintains Market Perform on Portman Ridge Finance, Lowers Price Target to $18

14 Nov 24

Keefe, Bruyette & Woods analyst Paul Johnson maintains Portman Ridge Finance (NASDAQ:PTMN) with a Market Perform and lowers the price target from $19 to $18.

Portman Ridge Finance Q3 2024 GAAP EPS $0.63 Misses $0.68 Estimate, Sales $15.177M Miss $16.256M Estimate

7 Nov 24

Portman Ridge Finance (NASDAQ:PTMN) reported quarterly earnings of $0.63 per share which missed the analyst consensus estimate of $0.68 by 7.35 percent. The company reported quarterly sales of $15.177 million which

Press releases

From Benzinga Pro

Boards of Directors of Portman Ridge Finance Corporation and Logan Ridge Finance Corporation Form Special Committees to Continue Evaluating Potential Business Combination

12 Dec 24

NEW YORK, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (NASDAQ:PTMN) ("Portman Ridge") and Logan Ridge Finance Corporation (NASDAQ:LRFC) ("Logan Ridge") announced today that their boards of

Portman Ridge Finance Corporation Schedules Third Quarter 2024 Earnings Release and Conference Call

23 Oct 24

NEW YORK, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Portman Ridge Finance Corporation (NASDAQ:PTMN) ("Portman Ridge" or the "Company") to release its financial results for the third quarter ended September 30, 2024, on