Short Interest in Logan Ridge Finance Co. (NASDAQ:LRFC) Decreases By 16.9%

Logan Ridge Finance Co. (NASDAQ:LRFC) saw a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 4,900 shares, a decline of 16.9% from the November 30th total of 5,900 shares. Based on an average daily trading volume, of 6,600 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.2% of the company’s shares are short sold.

Institutional Investors Weigh In On Logan Ridge Finance

A hedge fund recently raised its stake in Logan Ridge Finance stock. Empowered Funds LLC increased its position in Logan Ridge Finance Co. (NASDAQ:LRFC) by 5.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,130 shares of the company’s stock after acquiring an additional 670 shares during the quarter. Empowered Funds LLC owned about 0.53% of Logan Ridge Finance worth $345,000 at the end of the most recent quarter. 30.87% of the stock is owned by institutional investors.

Logan Ridge Finance Stock Up 0.6 %

NASDAQ:LRFC traded up $0.14 during mid-day trading on Tuesday, hitting $24.99. 2,084 shares of the company’s stock were exchanged, compared to its average volume of 4,307. The business has a fifty day moving average price of $25.03 and a 200 day moving average price of $23.49. The company has a market cap of $66.65 million, a PE ratio of -19.83 and a beta of 1.26. Logan Ridge Finance has a one year low of $20.65 and a one year 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.

Logan Ridge Finance Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were given a $0.36 dividend. This is a positive change from Logan Ridge Finance’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.44 dividend on an annualized basis and a yield of 5.76%. Logan Ridge Finance’s payout ratio is -114.29%.

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.