Logan Ridge Finance Co. (NASDAQ:LRFC) Sees Significant Increase in Short Interest

Logan Ridge Finance Co. (NASDAQ:LRFC) saw a significant increase in short interest in May. As of May 31st, there was short interest totalling 2,100 shares, an increase of 75.0% from the May 15th total of 1,200 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average trading volume of 9,100 shares, the short-interest ratio is presently 0.2 days.

Logan Ridge Finance Stock Down 0.4%

LRFC traded down $0.06 during trading on Friday, hitting $16.70. The stock had a trading volume of 11,432 shares, compared to its average volume of 7,250. The company has a market capitalization of $44.36 million, a PE ratio of -13.25 and a beta of 0.77. Logan Ridge Finance has a twelve month low of $16.57 and a twelve month 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 stock has a 50 day simple moving average of $17.89 and a two-hundred day simple moving average of $21.95.

Logan Ridge Finance (NASDAQ:LRFC) last announced its earnings results on Thursday, May 8th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.02). Logan Ridge Finance had a negative net margin of 16.43% and a positive return on equity of 3.69%. The firm had revenue of $4.63 million during the quarter, compared to analyst estimates of $5.20 million. On average, research analysts predict that Logan Ridge Finance will post 1.37 earnings per share for the current year.

Logan Ridge Finance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Monday, May 19th were issued a dividend of $0.36 per share. The ex-dividend date was Monday, May 19th. This represents a $1.44 dividend on an annualized basis and a yield of 8.62%. Logan Ridge Finance’s dividend payout ratio (DPR) is presently -52.94%.

Institutional Investors Weigh In On Logan Ridge Finance

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Punch & Associates Investment Management Inc. increased its stake in Logan Ridge Finance by 0.9% in the first quarter. Punch & Associates Investment Management Inc. now owns 227,960 shares of the company’s stock valued at $5,015,000 after purchasing an additional 1,996 shares during the period. Repertoire Partners LP increased its stake in shares of 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 acquiring an additional 47,938 shares during the period. Finally, Bulldog Investors LLP increased its stake in shares of Logan Ridge Finance by 58.9% during the fourth quarter. Bulldog Investors LLP now owns 219,366 shares of the company’s stock worth $5,446,000 after acquiring an additional 81,300 shares during the period. 30.87% of the stock is currently owned by institutional investors and hedge funds.

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.