Logan Ridge Finance Co. (NASDAQ:LRFC) Short Interest Update

Logan Ridge Finance Co. (NASDAQ:LRFC) was the target of a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 4,900 shares, a drop of 16.9% from the November 30th total of 5,900 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 6,600 shares, the days-to-cover ratio is currently 0.7 days.

Logan Ridge Finance Stock Performance

Shares of NASDAQ:LRFC traded up $0.14 during midday trading on Tuesday, reaching $24.99. 2,084 shares of the company traded hands, compared to its average volume of 4,307. Logan Ridge Finance has a 12 month low of $20.65 and a 12 month high of $26.00. The firm’s fifty day moving average price is $25.03 and its two-hundred day moving average price is $23.49. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $66.65 million, a price-to-earnings ratio of -19.83 and a beta of 1.26.

Logan Ridge Finance Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th were issued a dividend of $0.36 per share. This is a positive change from Logan Ridge Finance’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.44 annualized dividend and a dividend yield of 5.76%. Logan Ridge Finance’s payout ratio is presently -114.29%.

Institutional Investors Weigh In On Logan Ridge Finance

An institutional investor recently raised its position in Logan Ridge Finance stock. Empowered Funds LLC boosted its holdings in Logan Ridge Finance Co. (NASDAQ:LRFC) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,130 shares of the company’s stock after purchasing an additional 670 shares during the period. Empowered Funds LLC owned approximately 0.53% of Logan Ridge Finance worth $345,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 30.87% of the company’s stock.

Logan Ridge Finance Company Profile

Logan Ridge Finance Corporation, formerly known as, Capitala Finance Corp. is a Business Development Company specializing in senior subordinated debt and unitranche debt, unitranche loan, first-lien and second-lien loans, lower middle market and middle market, equity co-investment in sponsored companies.