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

Logan Ridge Finance Co. (NASDAQ:LRFC) saw a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 6,000 shares, a growth of 33.3% from the February 13th total of 4,500 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily volume of 8,200 shares, the short-interest ratio is currently 0.7 days.

Institutional Trading of Logan Ridge Finance

Several hedge funds have recently made changes to their positions in LRFC. Empowered Funds LLC lifted its stake in shares of Logan Ridge Finance by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 14,130 shares of the company’s stock worth $345,000 after acquiring an additional 670 shares during the period. Repertoire Partners LP acquired a new stake in shares of Logan Ridge Finance in the 3rd quarter worth $1,168,000. Finally, Bulldog Investors LLP lifted its stake in shares of Logan Ridge Finance by 58.9% in the 4th 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. Institutional investors and hedge funds own 30.87% of the company’s stock.

Logan Ridge Finance Stock Performance

Logan Ridge Finance stock traded down $0.79 during midday trading on Monday, hitting $22.66. 5,974 shares of the company’s stock were exchanged, compared to its average volume of 5,396. Logan Ridge Finance has a 12-month low of $20.65 and a 12-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 market cap of $60.43 million, a price-to-earnings ratio of -17.98 and a beta of 1.23. The firm’s 50 day simple moving average is $24.46 and its 200 day simple moving average is $24.41.

Logan Ridge Finance Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 24th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 6.35%. The ex-dividend date is Monday, March 24th. Logan Ridge Finance’s dividend payout ratio (DPR) is presently -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.