Logan Ridge Finance Co. (NASDAQ:LRFC) Short Interest Down 26.8% in June

Logan Ridge Finance Co. (NASDAQ:LRFC) was the target of a significant decline in short interest in June. As of June 15th, there was short interest totalling 6,000 shares, a decline of 26.8% from the May 31st total of 8,200 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 2,600 shares, the days-to-cover ratio is currently 2.3 days.

Logan Ridge Finance Stock Up 0.2 %

Logan Ridge Finance stock traded up $0.04 during trading hours on Friday, reaching $22.40. The stock had a trading volume of 3,584 shares, compared to its average volume of 2,034. The company has a market cap of $60.03 million, a price-to-earnings ratio of -131.76 and a beta of 1.33. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.12 and a quick ratio of 0.12. The business’s 50 day moving average price is $22.35 and its 200-day moving average price is $22.48. Logan Ridge Finance has a 52 week low of $19.80 and a 52 week high of $23.63.

Logan Ridge Finance (NASDAQ:LRFC) last announced its earnings results on Wednesday, May 8th. The company reported $0.35 EPS for the quarter. The business had revenue of $5.00 million during the quarter. Logan Ridge Finance had a net margin of 0.10% and a return on equity of 4.04%. Sell-side analysts anticipate that Logan Ridge Finance will post 1.4 EPS for the current year.

Logan Ridge Finance Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Tuesday, May 21st were issued a dividend of $0.33 per share. The ex-dividend date was Monday, May 20th. This represents a $1.32 annualized dividend and a dividend yield of 5.89%. This is an increase from Logan Ridge Finance’s previous quarterly dividend of $0.32. Logan Ridge Finance’s dividend payout ratio is -776.47%.

Hedge Funds Weigh In On Logan Ridge Finance

Hedge funds have recently modified their holdings of the stock. Empowered Funds LLC increased its holdings in shares of Logan Ridge Finance by 7.5% during the first quarter. Empowered Funds LLC now owns 12,560 shares of the company’s stock valued at $282,000 after acquiring an additional 875 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Logan Ridge Finance during the fourth quarter valued at about $971,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Logan Ridge Finance by 0.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 170,968 shares of the company’s stock valued at $3,845,000 after acquiring an additional 601 shares in the last quarter. Institutional investors and hedge funds own 30.87% of the company’s stock.

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.