Short Interest in Logan Ridge Finance Co. (NASDAQ:LRFC) Rises By 65.2%

Logan Ridge Finance Co. (NASDAQ:LRFC) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 7,600 shares, an increase of 65.2% from the October 31st total of 4,600 shares. Based on an average daily trading volume, of 6,200 shares, the short-interest ratio is currently 1.2 days. Currently, 0.3% of the shares of the stock are sold short.

Logan Ridge Finance Trading Up 0.3 %

LRFC opened at $25.98 on Friday. Logan Ridge Finance has a 1-year low of $20.65 and a 1-year high of $25.99. The stock has a market capitalization of $69.29 million, a PE ratio of -20.62 and a beta of 1.27. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average price of $24.67 and a two-hundred day moving average price of $23.06.

Logan Ridge Finance Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 19th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 5.54%. The ex-dividend date of this dividend is Tuesday, November 19th. This is a boost from Logan Ridge Finance’s previous quarterly dividend of $0.33. Logan Ridge Finance’s payout ratio is -114.29%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Logan Ridge Finance stock. Empowered Funds LLC lifted its holdings in shares of Logan Ridge Finance Co. (NASDAQ:LRFC) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,130 shares of the company’s stock after buying an additional 670 shares during the quarter. Empowered Funds LLC owned about 0.53% of Logan Ridge Finance worth $345,000 at the end of the most recent quarter. 30.87% of the stock is owned by hedge funds and other institutional investors.

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.