Logan Ridge Finance Co. (NASDAQ:LRFC) Sees Large Drop in Short Interest

Logan Ridge Finance Co. (NASDAQ:LRFC) saw a large decrease in short interest in November. As of November 30th, there was short interest totalling 5,900 shares, a decrease of 22.4% from the November 15th total of 7,600 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily volume of 6,700 shares, the short-interest ratio is presently 0.9 days.

Logan Ridge Finance Stock Up 0.6 %

Shares of NASDAQ LRFC traded up $0.15 during trading on Friday, hitting $25.40. 19,023 shares of the company traded hands, compared to its average volume of 4,183. The firm has a market capitalization of $67.74 million, a price-to-earnings ratio of -20.16 and a beta of 1.26. The business’s fifty day moving average is $24.88 and its 200 day moving average is $23.29. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.12 and a current ratio of 0.12. Logan Ridge Finance has a fifty-two week low of $20.65 and a fifty-two week high of $26.00.

Logan Ridge Finance Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.67%. 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. Logan Ridge Finance’s dividend payout ratio (DPR) is -114.29%.

Institutional Investors Weigh In On Logan Ridge Finance

An institutional investor recently bought a new position in Logan Ridge Finance stock. Repertoire Partners LP purchased a new stake in Logan Ridge Finance Co. (NASDAQ:LRFC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 47,062 shares of the company’s stock, valued at approximately $1,168,000. Logan Ridge Finance comprises about 1.3% of Repertoire Partners LP’s holdings, making the stock its 14th biggest holding. Repertoire Partners LP owned approximately 1.76% of Logan Ridge Finance as of its most recent SEC filing. Hedge funds and other institutional investors own 30.87% of the company’s stock.

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.