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

Logan Ridge Finance Co. (NASDAQ:LRFC) was the recipient of a significant drop in short interest during the month of July. As of July 15th, there was short interest totalling 4,900 shares, a drop of 15.5% from the June 30th total of 5,800 shares. Based on an average daily volume of 2,200 shares, the short-interest ratio is presently 2.2 days. Currently, 0.2% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Logan Ridge Finance by 0.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 170,968 shares of the company’s stock valued at $3,845,000 after purchasing an additional 601 shares during the period. International Assets Investment Management LLC acquired a new stake in Logan Ridge Finance in the fourth quarter valued at approximately $971,000. Finally, Empowered Funds LLC raised its holdings in Logan Ridge Finance by 7.5% in 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. Hedge funds and other institutional investors own 30.87% of the company’s stock.

Logan Ridge Finance Price Performance

Logan Ridge Finance stock opened at $22.28 on Tuesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.15. The stock has a market cap of $59.71 million, a P/E ratio of -131.06 and a beta of 1.31. The company has a 50-day moving average price of $22.37 and a 200 day moving average price of $22.40. Logan Ridge Finance has a 12-month low of $19.82 and a 12-month high of $23.63.

Logan Ridge Finance (NASDAQ:LRFC) last announced its earnings results on Wednesday, May 8th. The company reported $0.35 earnings per share for the quarter. The company 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 earnings per share for the current year.

Logan Ridge Finance Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Tuesday, May 21st were paid a $0.33 dividend. This is a positive change from Logan Ridge Finance’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Monday, May 20th. This represents a $1.32 annualized dividend and a dividend yield of 5.92%. Logan Ridge Finance’s dividend payout ratio (DPR) is presently -776.47%.

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.