Logan Ridge Finance Co. (NASDAQ:LRFC) Short Interest Up 33.3% in February

Logan Ridge Finance Co. (NASDAQ:LRFC) was the recipient of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 6,000 shares, an increase of 33.3% from the February 13th total of 4,500 shares. Based on an average trading volume of 8,200 shares, the short-interest ratio is presently 0.7 days. Currently, 0.3% of the shares of the company are sold short.

Logan Ridge Finance Price Performance

Logan Ridge Finance stock traded down $1.22 during midday trading on Friday, reaching $23.45. The company had a trading volume of 8,827 shares, compared to its average volume of 5,394. The firm’s fifty day simple moving average is $24.49 and its 200-day simple moving average is $24.38. Logan Ridge Finance has a 12-month low of $20.65 and a 12-month high of $26.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.12 and a quick ratio of 0.12. The company has a market capitalization of $62.54 million, a P/E ratio of -18.61 and a beta of 1.23.

Logan Ridge Finance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 24th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, March 24th. This represents a $1.44 annualized dividend and a dividend yield of 6.14%. Logan Ridge Finance’s dividend payout ratio is presently -2,880.00%.

Institutional Investors Weigh In On Logan Ridge Finance

Large investors have recently added to or reduced their stakes in the business. Repertoire Partners LP raised its holdings in Logan Ridge Finance by 101.9% during the fourth quarter. Repertoire Partners LP now owns 95,000 shares of the company’s stock worth $2,374,000 after purchasing an additional 47,938 shares in the last quarter. Bulldog Investors LLP boosted its stake in shares of Logan Ridge Finance by 58.9% in the fourth quarter. Bulldog Investors LLP now owns 219,366 shares of the company’s stock valued at $5,446,000 after buying an additional 81,300 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Logan Ridge Finance by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 14,130 shares of the company’s stock valued at $345,000 after purchasing an additional 670 shares in the last quarter. 30.87% of the stock is owned by hedge funds and other institutional investors.

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.