Short Interest in Logan Ridge Finance Co. (NASDAQ:LRFC) Drops By 16.9%

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

Logan Ridge Finance Trading Down 1.5 %

LRFC traded down $0.37 during mid-day trading on Monday, reaching $24.30. The stock had a trading volume of 636 shares, compared to its average volume of 4,314. The stock has a market capitalization of $64.81 million, a P/E ratio of -19.29 and a beta of 1.26. Logan Ridge Finance has a 52 week low of $20.65 and a 52 week high of $26.00. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.12 and a current ratio of 0.12. The firm’s fifty day simple moving average is $25.01 and its two-hundred day simple moving average is $23.47.

Logan Ridge Finance Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 5.93%. 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. Logan Ridge Finance’s dividend payout ratio (DPR) is presently -114.29%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Logan Ridge Finance stock. Empowered Funds LLC grew its stake in shares of Logan Ridge Finance Co. (NASDAQ:LRFC) by 5.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,130 shares of the company’s stock after buying an additional 670 shares during the period. Empowered Funds LLC owned approximately 0.53% of Logan Ridge Finance worth $345,000 as of its most recent filing with the Securities and Exchange Commission. 30.87% of the stock is owned by hedge funds and other institutional investors.

About Logan Ridge Finance

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.