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

Logan Ridge Finance Co. (NASDAQ:LRFC) was the target of a large decrease in short interest in December. As of December 15th, there was short interest totalling 4,900 shares, a decrease of 16.9% from the November 30th total of 5,900 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 6,600 shares, the short-interest ratio is presently 0.7 days.

Hedge Funds Weigh In On Logan Ridge Finance

An institutional investor recently raised its position in Logan Ridge Finance stock. Empowered Funds LLC lifted its position in shares of Logan Ridge Finance Co. (NASDAQ:LRFC) by 5.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,130 shares of the company’s stock after acquiring an additional 670 shares during the quarter. Empowered Funds LLC owned approximately 0.53% of Logan Ridge Finance worth $345,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 30.87% of the company’s stock.

Logan Ridge Finance Stock Performance

Shares of LRFC stock traded down $0.10 during trading on Friday, hitting $24.67. The company’s stock had a trading volume of 1,641 shares, compared to its average volume of 4,329. The business has a fifty day moving average of $25.01 and a 200-day moving average of $23.46. The company has a market cap of $65.79 million, a PE ratio of -19.58 and a beta of 1.26. Logan Ridge Finance has a 52 week low of $20.65 and a 52 week high of $26.00. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.11.

Logan Ridge Finance Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.84%. This is a boost from Logan Ridge Finance’s previous quarterly dividend of $0.33. The ex-dividend date was Tuesday, November 19th. Logan Ridge Finance’s payout ratio is presently -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.