Logan Ridge Finance Co. (NASDAQ:LRFC) Short Interest Update

Logan Ridge Finance Co. (NASDAQ:LRFC) saw a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 2,100 shares, an increase of 75.0% from the May 15th total of 1,200 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 9,100 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Trading of Logan Ridge Finance

A number of institutional investors have recently modified their holdings of the company. Bulldog Investors LLP boosted its stake in shares of Logan Ridge Finance by 58.9% during the 4th quarter. Bulldog Investors LLP now owns 219,366 shares of the company’s stock worth $5,446,000 after buying an additional 81,300 shares during the last quarter. Repertoire Partners LP boosted its position in Logan Ridge Finance by 101.9% during the fourth quarter. Repertoire Partners LP now owns 95,000 shares of the company’s stock valued at $2,374,000 after purchasing an additional 47,938 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. increased its position in shares of Logan Ridge Finance by 0.9% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 227,960 shares of the company’s stock worth $5,015,000 after purchasing an additional 1,996 shares during the last quarter. 30.87% of the stock is currently owned by institutional investors.

Logan Ridge Finance Stock Up 0.1%

Shares of LRFC traded up $0.02 on Monday, hitting $16.72. The company’s stock had a trading volume of 436 shares, compared to its average volume of 7,222. The firm’s fifty day moving average price is $17.89 and its 200-day moving average price is $21.92. Logan Ridge Finance has a fifty-two week low of $16.57 and a fifty-two week high of $26.00. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $44.40 million, a price-to-earnings ratio of -13.27 and a beta of 0.77.

Logan Ridge Finance (NASDAQ:LRFC) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). Logan Ridge Finance had a negative net margin of 16.43% and a positive return on equity of 3.69%. The company had revenue of $4.63 million during the quarter, compared to the consensus estimate of $5.20 million. On average, equities research analysts expect that Logan Ridge Finance will post 1.37 EPS for the current year.

Logan Ridge Finance Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Monday, May 19th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 8.61%. The ex-dividend date was Monday, May 19th. Logan Ridge Finance’s payout ratio is presently -52.94%.

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.