Logan Ridge Finance (NASDAQ:LRFC) Shares Up 0.5% - Still a Buy?

Logan Ridge Finance Corporation (NASDAQ:LRFC - Get Free Report)'s share price was up 0.5% during trading on Monday . The stock traded as high as $18.94 and last traded at $18.94. Approximately 1,105 shares changed 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 Stock Performance

The business has a 50-day moving average of $17.95 and a two-hundred day moving average of $21.20. The company has a market cap of $50.11 million, a P/E ratio of -6.93 and a beta of 0.78. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.33 and a quick ratio of 2.33.

Logan Ridge Finance (NASDAQ:LRFC - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.35 earnings per share 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 the consensus estimate of $5.20 million. Logan Ridge Finance had a negative net margin of 35.29% and a positive return on equity of 4.91%. On average, sell-side analysts predict that Logan Ridge Finance Corporation will post 1.37 EPS for the current fiscal year.

Logan Ridge Finance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Monday, May 19th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 7.64%. The ex-dividend date of this dividend was Monday, May 19th. Logan Ridge Finance's dividend payout ratio is currently -52.94%.

Institutional Trading of Logan Ridge Finance

Institutional investors and hedge funds have recently made changes to their positions in the business. Repertoire Partners LP boosted its stake in shares of Logan Ridge Finance by 101.9% in the fourth quarter. Repertoire Partners LP now owns 95,000 shares of the company's stock worth $2,374,000 after acquiring an additional 47,938 shares during the last quarter. Bulldog Investors LLP boosted its stake in shares of Logan Ridge Finance by 58.9% in the fourth quarter. Bulldog Investors LLP now owns 219,366 shares of the company's stock worth $5,446,000 after acquiring an additional 81,300 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. boosted its stake in shares of Logan Ridge Finance by 0.9% in the first quarter. Punch & Associates Investment Management Inc. now owns 227,960 shares of the company's stock worth $5,015,000 after acquiring an additional 1,996 shares during the last quarter. 30.87% of the stock is currently owned by hedge funds and other institutional investors.

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.