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

Logan Ridge Finance Co. (NASDAQ:LRFC) saw a large decline in short interest during the month of 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. Currently, 0.2% of the shares of the company are sold short. 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 position in shares of Logan Ridge Finance Co. (NASDAQ:LRFC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 47,062 shares of the company’s stock, valued at approximately $1,168,000. Logan Ridge Finance makes up 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 at the end of the most recent quarter. Hedge funds and other institutional investors own 30.87% of the company’s stock.

Logan Ridge Finance Stock Performance

LRFC traded up $0.15 during midday trading on Friday, reaching $25.40. The company had a trading volume of 19,023 shares, compared to its average volume of 4,183. The business has a 50-day moving average price of $24.88 and a two-hundred day moving average price of $23.29. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.12 and a current ratio of 0.12. Logan Ridge Finance has a 12-month low of $20.65 and a 12-month high of $26.00. The stock has a market cap of $67.74 million, a PE ratio of -20.16 and a beta of 1.26.

Logan Ridge Finance Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were paid a dividend of $0.36 per share. This is a boost from Logan Ridge Finance’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.67%. The ex-dividend date was Tuesday, November 19th. Logan Ridge Finance’s dividend payout ratio is presently -114.29%.

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.