Mount Logan Capital (NASDAQ:MLCI) Announces Earnings Results

Mount Logan Capital (NASDAQ:MLCI) posted its quarterly earnings results on Thursday. The company reported ($0.33) earnings per share for the quarter, FiscalAI reports. The business had revenue of $12.85 million for the quarter. Mount Logan Capital had a negative return on equity of 72.32% and a negative net margin of 155.36%.

Mount Logan Capital Trading Down 0.3%

Mount Logan Capital stock traded down $0.01 during mid-day trading on Thursday, hitting $3.54. The company’s stock had a trading volume of 19,062 shares, compared to its average volume of 47,935. The firm has a market capitalization of $39.61 million, a PE ratio of -0.53 and a beta of 2.36. Mount Logan Capital has a 1 year low of $2.56 and a 1 year high of $8.68. The stock’s fifty day moving average is $3.26 and its two-hundred day moving average is $3.98.

Mount Logan Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 21st were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 3.4%. The ex-dividend date was Friday, August 21st. Mount Logan Capital’s dividend payout ratio is presently -1.80%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Mount Logan Capital from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 23rd. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, Mount Logan Capital presently has an average rating of “Sell” and an average target price of $8.00.

Hedge Funds Weigh In On Mount Logan Capital

Several large investors have recently modified their holdings of the business. HighTower Advisors LLC increased its position in shares of Mount Logan Capital by 1.8% during the 2nd quarter. HighTower Advisors LLC now owns 286,393 shares of the company’s stock worth $985,000 after purchasing an additional 5,069 shares during the last quarter. BlackRock Inc. purchased a new stake in Mount Logan Capital in the 2nd quarter valued at about $274,000. Punch & Associates Investment Management Inc. purchased a new stake in Mount Logan Capital in the 2nd quarter valued at about $635,000. Finally, JB Capital Partners LP acquired a new position in Mount Logan Capital in the second quarter valued at about $1,839,468.

About Mount Logan Capital

Mount Logan Capital Inc (NASDAQ: MLCI) is a financial services and asset management company focused on credit and insurance-related investments. The company seeks to generate long-term returns by investing in a diversified portfolio of credit assets and providing capital solutions across areas of the private and structured credit markets.

Mount Logan’s activities have included investments in corporate debt, asset-backed securities, collateralized loan obligations and other income-producing credit instruments.