Short Interest in Logan Ridge Finance Co. (NASDAQ:LRFC) Rises By 65.2%

Logan Ridge Finance Co. (NASDAQ:LRFC) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 7,600 shares, an increase of 65.2% from the October 31st total of 4,600 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 6,200 shares, the short-interest ratio is currently 1.2 days.

Logan Ridge Finance Price Performance

Shares of NASDAQ:LRFC opened at $25.98 on Friday. The business’s 50 day moving average is $24.67 and its 200-day moving average is $23.06. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $69.29 million, a PE ratio of -20.62 and a beta of 1.27. Logan Ridge Finance has a 1-year low of $20.65 and a 1-year high of $25.99.

Logan Ridge Finance Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.36 per share. This is a positive change from Logan Ridge Finance’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a dividend yield of 5.54%. The ex-dividend date of this dividend is Tuesday, November 19th. Logan Ridge Finance’s payout ratio is -114.29%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Logan Ridge Finance stock. Empowered Funds LLC raised its stake in shares of Logan Ridge Finance Co. (NASDAQ:LRFC) by 5.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,130 shares of the company’s stock after acquiring an additional 670 shares during the quarter. Empowered Funds LLC owned approximately 0.53% of Logan Ridge Finance worth $345,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors 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.