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

Logan Ridge Finance Co. (NASDAQ:LRFC) was the target of a significant growth in short interest in 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 company’s stock are short sold. Based on an average daily volume of 8,200 shares, the days-to-cover ratio is currently 0.7 days.

Logan Ridge Finance Stock Up 0.2 %

Shares of LRFC stock traded up $0.04 during mid-day trading on Tuesday, hitting $22.70. 338 shares of the stock traded hands, compared to its average volume of 5,375. Logan Ridge Finance has a 52-week low of $20.65 and a 52-week high of $26.00. The stock’s fifty day moving average is $24.46 and its two-hundred day moving average is $24.41. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a market cap of $60.53 million, a P/E ratio of -18.01 and a beta of 1.23.

Logan Ridge Finance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 24th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 6.35%. The ex-dividend date of this dividend is Monday, March 24th. Logan Ridge Finance’s dividend payout ratio (DPR) is presently -2,880.00%.

Hedge Funds Weigh In On Logan Ridge Finance

Hedge funds and other institutional investors have recently modified their holdings of the stock. Repertoire Partners LP acquired a new position in Logan Ridge Finance during the 3rd quarter valued at approximately $1,168,000. Empowered Funds LLC grew its holdings in shares of Logan Ridge Finance by 5.0% during the third quarter. Empowered Funds LLC now owns 14,130 shares of the company’s stock valued at $345,000 after buying an additional 670 shares during the last quarter. Finally, Bulldog Investors LLP grew its holdings in shares of Logan Ridge Finance by 58.9% during the fourth quarter. Bulldog Investors LLP now owns 219,366 shares of the company’s stock valued at $5,446,000 after buying an additional 81,300 shares during the last quarter. 30.87% of the stock is owned by hedge funds and other institutional investors.

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.