Logan Ridge Finance Co. (NASDAQ:LRFC) Short Interest Down 19.1% in March

Logan Ridge Finance Co. (NASDAQ:LRFC - Get Free Report) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 3,800 shares, a decrease of 19.1% from the March 15th total of 4,700 shares. Approximately 0.2% of the company's stock are sold short. Based on an average daily trading volume, of 3,700 shares, the short-interest ratio is currently 1.0 days.

Institutional Investors Weigh In On Logan Ridge Finance

A number of institutional investors and hedge funds have recently modified their holdings of LRFC. Punch & Associates Investment Management Inc. raised its stake in Logan Ridge Finance by 22.2% in the third quarter. Punch & Associates Investment Management Inc. now owns 209,582 shares of the company's stock valued at $4,349,000 after purchasing an additional 38,105 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Logan Ridge Finance in the fourth quarter valued at approximately $971,000. Dakota Wealth Management purchased a new stake in Logan Ridge Finance in the first quarter valued at approximately $542,000. Captrust Financial Advisors purchased a new stake in Logan Ridge Finance in the second quarter valued at approximately $49,000. Finally, UBS Group AG raised its stake in Logan Ridge Finance by 303.2% in the second quarter. UBS Group AG now owns 1,649 shares of the company's stock valued at $26,000 after purchasing an additional 1,240 shares in the last quarter. 30.87% of the stock is owned by hedge funds and other institutional investors.

Logan Ridge Finance Stock Down 1.8 %

LRFC traded down $0.41 during trading on Friday, hitting $21.99. 8,725 shares of the company's stock were exchanged, compared to its average volume of 2,692. Logan Ridge Finance has a fifty-two week low of $18.53 and a fifty-two week high of $23.63. The stock has a market cap of $58.89 million, a P/E ratio of -20.75 and a beta of 1.32. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.16. The business's 50 day moving average is $22.45 and its two-hundred day moving average is $22.05.

Logan Ridge Finance Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 25th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.82%. This is an increase from Logan Ridge Finance's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, March 22nd. Logan Ridge Finance's dividend payout ratio is presently -120.75%.

Logan Ridge Finance Company Profile

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.