Logan Ridge Finance Co. (NASDAQ:LRFC - Get Free Report) was the recipient of a significant drop in short interest in December. As of December 15th, there was short interest totalling 4,900 shares, a drop of 16.9% from the November 30th total of 5,900 shares. Based on an average daily volume of 6,600 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.2% of the company's stock are sold short.
Logan Ridge Finance Stock Down 0.4 %
Shares of NASDAQ:LRFC traded down $0.10 during trading on Friday, hitting $24.67. 1,641 shares of the company were exchanged, compared to its average volume of 4,329. Logan Ridge Finance has a fifty-two week low of $20.65 and a fifty-two week high of $26.00. The stock has a market cap of $65.79 million, a price-to-earnings ratio of -19.58 and a beta of 1.26. 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 fifty day moving average price of $25.01 and a two-hundred day moving average price of $23.46.
Logan Ridge Finance Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th were 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 yield of 5.84%. The ex-dividend date was Tuesday, November 19th. Logan Ridge Finance's dividend payout ratio is -114.29%.
Institutional Inflows and Outflows
An institutional investor recently raised its position in Logan Ridge Finance stock. Empowered Funds LLC increased its holdings in shares of Logan Ridge Finance Co. (NASDAQ:LRFC - Free Report) by 5.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,130 shares of the company's stock after acquiring 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 SEC filing. 30.87% of the stock is currently owned by hedge funds and other institutional investors.
Logan Ridge Finance Company Profile
(
Get Free Report)
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.
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