Logan Ridge Finance Co. (NASDAQ:LRFC) Short Interest Down 26.8% in June

Logan Ridge Finance Co. (NASDAQ:LRFC) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 6,000 shares, a drop of 26.8% from the May 31st total of 8,200 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average daily volume of 2,600 shares, the days-to-cover ratio is presently 2.3 days.

Institutional Investors Weigh In On Logan Ridge Finance

Hedge funds have recently bought and sold shares of the business. Empowered Funds LLC grew its stake in Logan Ridge Finance by 7.5% during the 1st quarter. Empowered Funds LLC now owns 12,560 shares of the company’s stock valued at $282,000 after purchasing an additional 875 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Logan Ridge Finance in the 4th quarter worth approximately $971,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Logan Ridge Finance by 0.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 170,968 shares of the company’s stock worth $3,845,000 after purchasing an additional 601 shares during the last quarter. Institutional investors and hedge funds own 30.87% of the company’s stock.

Logan Ridge Finance Stock Up 0.2 %

Shares of LRFC stock traded up $0.04 during trading hours on Friday, reaching $22.40. The company had a trading volume of 3,584 shares, compared to its average volume of 2,034. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.12 and a current ratio of 0.12. Logan Ridge Finance has a twelve month low of $19.80 and a twelve month high of $23.63. The company has a market capitalization of $60.03 million, a P/E ratio of -131.76 and a beta of 1.33. The stock’s fifty day simple moving average is $22.35 and its 200 day simple moving average is $22.48.

Logan Ridge Finance (NASDAQ:LRFC) last posted its earnings results on Wednesday, May 8th. The company reported $0.35 earnings per share (EPS) for the quarter. Logan Ridge Finance had a return on equity of 4.04% and a net margin of 0.10%. The business had revenue of $5.00 million during the quarter. As a group, sell-side analysts expect that Logan Ridge Finance will post 1.4 earnings per share for the current fiscal year.

Logan Ridge Finance Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Tuesday, May 21st were paid a $0.33 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.89%. This is a positive change from Logan Ridge Finance’s previous quarterly dividend of $0.32. Logan Ridge Finance’s dividend payout ratio (DPR) is -776.47%.

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.