Short Interest in Logan Ridge Finance Co. (NASDAQ:LRFC) Declines By 22.4%

Logan Ridge Finance Co. (NASDAQ:LRFC) was the recipient of a large decline in short interest in November. As of November 30th, there was short interest totalling 5,900 shares, a decline of 22.4% from the November 15th total of 7,600 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 6,700 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Investors Weigh In On Logan Ridge Finance

An institutional investor recently bought a new position in Logan Ridge Finance stock. Repertoire Partners LP purchased a new stake in Logan Ridge Finance Co. (NASDAQ:LRFC) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 47,062 shares of the company’s stock, valued at approximately $1,168,000. Logan Ridge Finance comprises 1.3% of Repertoire Partners LP’s holdings, making the stock its 14th largest position. Repertoire Partners LP owned approximately 1.76% of Logan Ridge Finance as of its most recent filing with the Securities and Exchange Commission. 30.87% of the stock is currently owned by institutional investors and hedge funds.

Logan Ridge Finance Stock Down 0.7 %

NASDAQ:LRFC traded down $0.19 on Monday, hitting $25.21. 28,208 shares of the company’s stock were exchanged, compared to its average volume of 4,286. The firm has a 50-day moving average price of $24.91 and a 200-day moving average price of $23.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.12 and a quick ratio of 0.12. 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 $67.23 million, a P/E ratio of -20.01 and a beta of 1.26.

Logan Ridge Finance Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.71%. This is a boost from Logan Ridge Finance’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Tuesday, November 19th. Logan Ridge Finance’s dividend payout ratio is presently -114.29%.

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.