Logan Ridge Finance Co. (NASDAQ:LRFC) Sees Large Drop in Short Interest

Logan Ridge Finance Co. (NASDAQ:LRFC) saw a large decrease in short interest in March. As of March 15th, there was short interest totalling 4,000 shares, a decrease of 33.3% from the February 28th total of 6,000 shares. Based on an average daily volume of 8,000 shares, the short-interest ratio is presently 0.5 days. Approximately 0.2% of the company’s shares are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Logan Ridge Finance stock. Repertoire Partners LP purchased a new stake in Logan Ridge Finance Co. (NASDAQ:LRFC) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 47,062 shares of the company’s stock, valued at approximately $1,168,000. Logan Ridge Finance makes up about 1.3% of Repertoire Partners LP’s investment portfolio, making the stock its 14th largest holding. Repertoire Partners LP owned 1.76% of Logan Ridge Finance as of its most recent SEC filing. 30.87% of the stock is currently owned by hedge funds and other institutional investors.

Logan Ridge Finance Trading Down 2.2 %

NASDAQ LRFC traded down $0.48 during trading hours on Friday, hitting $21.43. 4,111 shares of the company’s stock were exchanged, compared to its average volume of 5,401. The firm has a market cap of $56.91 million, a price-to-earnings ratio of -17.00 and a beta of 1.23. The stock has a 50-day simple moving average of $24.10 and a 200 day simple moving average of $24.46. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.11. Logan Ridge Finance has a 1-year low of $20.65 and a 1-year high of $26.00.

Logan Ridge Finance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 24th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 6.72%. The ex-dividend date is Monday, March 24th. Logan Ridge Finance’s dividend payout ratio (DPR) is -2,880.00%.

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.