Logan Ridge Finance (NASDAQ:LRFC) Stock Price Down 0.6% – What’s Next?

Logan Ridge Finance Co. (NASDAQ:LRFC) fell 0.6% during trading on Monday . The company traded as low as $23.64 and last traded at $23.92. 8,240 shares traded hands during mid-day trading, an increase of 13% from the average session volume of 7,267 shares. The stock had previously closed at $24.07.

Logan Ridge Finance Price Performance

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 stock has a market capitalization of $63.87 million, a PE ratio of -18.98 and a beta of 1.26. The company’s fifty day simple moving average is $24.88 and its two-hundred day simple moving average is $23.69.

Logan Ridge Finance Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were given a dividend of $0.36 per share. This is an increase from Logan Ridge Finance’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a dividend yield of 6.02%. The ex-dividend date of this dividend was Tuesday, November 19th. Logan Ridge Finance’s payout ratio is currently -114.29%.

Hedge Funds Weigh In On Logan Ridge Finance

A hedge fund recently raised its stake in Logan Ridge Finance stock. Empowered Funds LLC boosted its position in Logan Ridge Finance Co. (NASDAQ:LRFC) by 5.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,130 shares of the company’s stock after purchasing an additional 670 shares during the quarter. Empowered Funds LLC owned about 0.53% of Logan Ridge Finance worth $345,000 as of its most recent filing with the Securities and Exchange Commission. 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.