Short Interest in Logan Ridge Finance Co. (NASDAQ:LRFC) Declines By 33.3%

Logan Ridge Finance Co. (NASDAQ:LRFC) was the target of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 4,000 shares, a decline of 33.3% from the February 28th total of 6,000 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average trading volume of 8,000 shares, the days-to-cover ratio is currently 0.5 days.

Logan Ridge Finance Stock Down 2.2 %

LRFC traded down $0.48 on Friday, hitting $21.43. 4,111 shares of the company were exchanged, compared to its average volume of 5,401. The stock’s fifty day moving average is $24.10 and its 200-day moving average is $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 quick ratio of 0.12 and a current ratio of 0.12. The company has a market cap of $56.91 million, a PE ratio of -17.00 and a beta of 1.23.

Logan Ridge Finance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 6.72%. The ex-dividend date of this dividend is Monday, March 24th. Logan Ridge Finance’s payout ratio is presently -2,880.00%.

Hedge Funds Weigh In On Logan Ridge Finance

A hedge fund recently bought a new stake in Logan Ridge Finance stock. Repertoire Partners LP acquired a new position in shares of Logan Ridge Finance Co. (NASDAQ:LRFC) during the 3rd quarter, according to its most recent 13F filing 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 1.3% of Repertoire Partners LP’s investment portfolio, making the stock its 14th largest holding. Repertoire Partners LP owned 1.76% of Logan Ridge Finance at the end of the most recent quarter. 30.87% of the stock is owned by institutional investors and hedge funds.

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.