Logan Ridge Finance Co. (NASDAQ:LRFC – Get Rating) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 5,600 shares, an increase of 166.7% from the November 30th total of 2,100 shares. Based on an average daily volume of 6,600 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.2% of the shares of the company are sold short.
Logan Ridge Finance Trading Up 0.5 %
Shares of NASDAQ:LRFC traded up $0.10 during trading on Thursday, reaching $22.00. The stock had a trading volume of 11,709 shares, compared to its average volume of 5,409. The stock has a fifty day simple moving average of $20.46 and a two-hundred day simple moving average of $19.20. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.64. Logan Ridge Finance has a 52 week low of $14.43 and a 52 week high of $26.48.
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Logan Ridge Finance (NASDAQ:LRFC – Get Rating) last announced its quarterly earnings data on Tuesday, November 8th. The company reported $0.07 earnings per share (EPS) for the quarter. The business had revenue of $3.75 million for the quarter. Logan Ridge Finance had a negative net margin of 87.58% and a negative return on equity of 3.04%. On average, research analysts predict that Logan Ridge Finance will post -0.6 earnings per share for the current year.
Institutional Investors Weigh In On Logan Ridge Finance
A number of institutional investors have recently bought and sold shares of LRFC. Bulldog Investors LLP boosted its stake in shares of Logan Ridge Finance by 4.5% in the 3rd quarter. Bulldog Investors LLP now owns 80,402 shares of the company's stock valued at $1,444,000 after purchasing an additional 3,476 shares in the last quarter. Dakota Wealth Management grew its position in shares of Logan Ridge Finance by 55.6% in the 3rd quarter. Dakota Wealth Management now owns 37,330 shares of the company's stock valued at $670,000 after purchasing an additional 13,332 shares during the period. Captrust Financial Advisors acquired a new position in Logan Ridge Finance during the 2nd quarter worth approximately $49,000. Mariner Investment Group LLC boosted its position in Logan Ridge Finance by 31.5% during the 2nd quarter. Mariner Investment Group LLC now owns 93,638 shares of the company's stock worth $1,470,000 after acquiring an additional 22,409 shares during the last quarter. Finally, UBS Group AG raised its stake in shares of Logan Ridge Finance by 303.2% during the 2nd quarter. UBS Group AG now owns 1,649 shares of the company's stock worth $26,000 after purchasing an additional 1,240 shares in the last quarter. Institutional investors and hedge funds own 15.70% of the company's stock.
About Logan Ridge Finance
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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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