Logan Ridge Finance Co. (NASDAQ:LRFC) Sees Large Drop in Short Interest

Logan Ridge Finance Co. (NASDAQ:LRFC) saw a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 4,000 shares, a decrease of 33.3% from the February 28th total of 6,000 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average trading volume of 8,000 shares, the short-interest ratio is presently 0.5 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 acquired a new position in shares of Logan Ridge Finance Co. (NASDAQ:LRFC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 47,062 shares of the company’s stock, valued at approximately $1,168,000. Logan Ridge Finance comprises about 1.3% of Repertoire Partners LP’s portfolio, making the stock its 14th biggest holding. Repertoire Partners LP owned 1.76% of Logan Ridge Finance as of its most recent filing with the Securities and Exchange Commission. 30.87% of the stock is owned by hedge funds and other institutional investors.

Logan Ridge Finance Stock Down 2.2 %

LRFC stock traded down $0.48 during mid-day trading on Friday, reaching $21.43. 4,111 shares of the company traded hands, compared to its average volume of 5,401. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.11. The firm’s 50 day moving average price is $24.10 and its 200 day moving average price is $24.46. The stock has a market cap of $56.91 million, a price-to-earnings ratio of -17.00 and a beta of 1.23. Logan Ridge Finance has a fifty-two week low of $20.65 and a fifty-two week high of $26.00.

Logan Ridge Finance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 24th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, March 24th. This represents a $1.44 annualized dividend and a dividend yield of 6.72%. Logan Ridge Finance’s payout ratio is -2,880.00%.

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.