Logan Ridge Finance Co. (NASDAQ:LRFC) Short Interest Up 33.3% in February

Logan Ridge Finance Co. (NASDAQ:LRFC) saw a large 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 shares are sold short. Based on an average daily trading volume, of 8,200 shares, the days-to-cover ratio is currently 0.7 days.

Logan Ridge Finance Trading Up 0.2 %

LRFC stock traded up $0.04 during mid-day trading on Tuesday, reaching $22.70. The company had a trading volume of 338 shares, compared to its average volume of 5,375. The company has a market capitalization of $60.53 million, a PE ratio of -18.01 and a beta of 1.23. The firm has a 50 day moving average of $24.46 and a 200 day moving average of $24.41. Logan Ridge Finance has a 12 month low of $20.65 and a 12 month high of $26.00. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 24th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 6.35%. The ex-dividend date is Monday, March 24th. Logan Ridge Finance’s dividend payout ratio is -2,880.00%.

Hedge Funds Weigh In On Logan Ridge Finance

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

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.