Logan Ridge Finance (NASDAQ:LRFC) Trading 0.5% Higher - What's Next?

Shares of Logan Ridge Finance Corporation (NASDAQ:LRFC - Get Free Report) rose 0.5% on Monday . The company traded as high as $18.94 and last traded at $18.94. Approximately 1,105 shares traded hands during trading, a decline of 85% from the average daily volume of 7,538 shares. The stock had previously closed at $18.85.

Logan Ridge Finance Trading Down 0.6%

The business has a 50 day moving average of $18.01 and a two-hundred day moving average of $21.13. The firm has a market cap of $50.46 million, a P/E ratio of -6.99 and a beta of 0.78. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 0.69.

Logan Ridge Finance (NASDAQ:LRFC - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.02). The company had revenue of $4.63 million for the quarter, compared to analyst estimates of $5.20 million. Logan Ridge Finance had a positive return on equity of 4.91% and a negative net margin of 35.29%. Analysts predict that Logan Ridge Finance Corporation will post 1.37 earnings per share for the current year.

Logan Ridge Finance Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Monday, May 19th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 7.58%. The ex-dividend date was Monday, May 19th. Logan Ridge Finance's dividend payout ratio is presently -52.94%.

Institutional Trading of Logan Ridge Finance

A number of hedge funds have recently modified their holdings of LRFC. Repertoire Partners LP increased its holdings in Logan Ridge Finance by 101.9% in the 4th quarter. Repertoire Partners LP now owns 95,000 shares of the company's stock valued at $2,374,000 after buying an additional 47,938 shares during the period. Bulldog Investors LLP increased its holdings in Logan Ridge Finance by 58.9% in the 4th quarter. Bulldog Investors LLP now owns 219,366 shares of the company's stock valued at $5,446,000 after buying an additional 81,300 shares during the period. Finally, Punch & Associates Investment Management Inc. increased its holdings in Logan Ridge Finance by 0.9% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 227,960 shares of the company's stock valued at $5,015,000 after buying an additional 1,996 shares during the period. 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.