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

Logan Ridge Finance Co. (NASDAQ:LRFC) was the recipient of a significant growth in short interest in 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. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily volume of 8,200 shares, the short-interest ratio is presently 0.7 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in LRFC. Bulldog Investors LLP grew its position in shares of Logan Ridge Finance by 58.9% in the fourth quarter. Bulldog Investors LLP now owns 219,366 shares of the company’s stock valued at $5,446,000 after purchasing an additional 81,300 shares during the last quarter. Repertoire Partners LP grew its position in shares of Logan Ridge Finance by 101.9% in 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, Empowered Funds LLC grew its position in shares of Logan Ridge Finance by 5.0% in the third quarter. Empowered Funds LLC now owns 14,130 shares of the company’s stock valued at $345,000 after purchasing an additional 670 shares during the last quarter. 30.87% of the stock is currently owned by institutional investors and hedge funds.

Logan Ridge Finance Price Performance

LRFC stock traded down $0.79 during trading on Monday, reaching $22.66. 5,974 shares of the company were exchanged, compared to its average volume of 5,396. 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’s 50 day moving average price is $24.46 and its 200 day moving average price is $24.41. Logan Ridge Finance has a 52-week low of $20.65 and a 52-week high of $26.00. The company has a market cap of $60.43 million, a P/E ratio of -17.98 and a beta of 1.23.

Logan Ridge Finance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 24th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, March 24th. This represents a $1.44 annualized dividend and a yield of 6.35%. Logan Ridge Finance’s payout ratio is currently -2,880.00%.

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.