Mount Logan Capital Inc. (NASDAQ:MLCI) Sees Significant Increase in Short Interest

Mount Logan Capital Inc. (NASDAQ:MLCI) was the recipient of a large increase in short interest in July. As of July 31st, there was short interest totaling 105,226 shares, an increase of 72.8% from the July 15th total of 60,879 shares. Based on an average daily volume of 9,552 shares, the days-to-cover ratio is presently 11.0 days. Currently, 1.0% of the company’s stock are short sold.

Institutional Investors Weigh In On Mount Logan Capital

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in Mount Logan Capital in the 2nd quarter valued at $274,000. Punch & Associates Investment Management Inc. bought a new position in shares of Mount Logan Capital during the 2nd quarter valued at about $635,000. Finally, JB Capital Partners LP bought a new position in shares of Mount Logan Capital during the 2nd quarter valued at about $1,839,468,000.

Mount Logan Capital Stock Down 0.6%

MLCI traded down $0.02 during midday trading on Monday, reaching $3.12. The company had a trading volume of 47,759 shares, compared to its average volume of 59,847. The business has a 50-day moving average of $3.15 and a two-hundred day moving average of $4.95. Mount Logan Capital has a 1 year low of $2.56 and a 1 year high of $8.74. The company has a market cap of $34.91 million and a P/E ratio of -0.47.

Mount Logan Capital (NASDAQ:MLCI) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.37) earnings per share for the quarter. The company had revenue of $8.75 million for the quarter. Mount Logan Capital had a negative net margin of 155.36% and a negative return on equity of 72.32%.

Mount Logan Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 21st will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Friday, August 21st. Mount Logan Capital’s dividend payout ratio is presently -1.80%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MLCI shares. Capital One Financial set a $8.00 price target on Mount Logan Capital in a research report on Thursday, June 25th. Wall Street Zen upgraded Mount Logan Capital from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings started coverage on shares of Mount Logan Capital in a report on Tuesday, May 26th. They issued a “sell (d-)” rating on the stock. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell” and a consensus target price of $8.00.

Mount Logan Capital Company Profile

Mount Logan Capital Inc is an alternative asset management company that focuses on investing in, originating, and managing credit and private debt opportunities. The company’s activities are centered on providing capital solutions across a range of specialty finance and investment strategies, with an emphasis on generating income and preserving capital through disciplined credit underwriting.

The company operates through a combination of investment management and direct lending activities, and it may participate in a variety of asset classes, including structured credit, specialty finance, and other private market opportunities.