Logan Ridge Finance (NASDAQ:LRFC) Shares Down 0.6% – Here’s Why

Logan Ridge Finance Co. (NASDAQ:LRFC) shares traded down 0.6% during mid-day trading on Monday . The stock traded as low as $23.64 and last traded at $23.92. 8,240 shares traded hands during trading, an increase of 13% from the average session volume of 7,267 shares. The stock had previously closed at $24.07.

Logan Ridge Finance Price Performance

The company’s 50 day simple moving average is $24.88 and its 200 day simple moving average is $23.69. 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 stock has a market capitalization of $63.87 million, a PE ratio of -18.98 and a beta of 1.26.

Logan Ridge Finance Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th were given a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.02%. This is an increase from Logan Ridge Finance’s previous quarterly dividend of $0.33. Logan Ridge Finance’s payout ratio is currently -114.29%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Logan Ridge Finance stock. Empowered Funds LLC raised its stake in shares of Logan Ridge Finance Co. (NASDAQ:LRFC) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,130 shares of the company’s stock after purchasing an additional 670 shares during the period. Empowered Funds LLC owned 0.53% of Logan Ridge Finance worth $345,000 at the end of the most recent reporting period. 30.87% of the stock is currently owned by 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.