Short Interest in Logan Ridge Finance Co. (NASDAQ:LRFC) Declines By 47.7%

Logan Ridge Finance Co. (NASDAQ:LRFC) saw a significant decline in short interest in the month of February. As of February 15th, there was short interest totalling 4,500 shares, a decline of 47.7% from the January 31st total of 8,600 shares. Based on an average trading volume of 8,400 shares, the short-interest ratio is presently 0.5 days. Approximately 0.2% of the shares of the company are short sold.

Logan Ridge Finance Stock Performance

LRFC stock traded down $0.71 during midday trading on Monday, reaching $24.24. The company had a trading volume of 11,166 shares, compared to its average volume of 5,256. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average price of $24.57 and a 200 day moving average price of $24.23. Logan Ridge Finance has a fifty-two week low of $20.65 and a fifty-two week high of $26.00. The firm has a market capitalization of $64.65 million, a PE ratio of -19.24 and a beta of 1.26.

Hedge Funds Weigh In On Logan Ridge Finance

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC boosted its stake in Logan Ridge Finance by 5.0% in the third quarter. Empowered Funds LLC now owns 14,130 shares of the company’s stock valued at $345,000 after acquiring an additional 670 shares during the period. Repertoire Partners LP acquired a new position in Logan Ridge Finance in the third quarter valued at approximately $1,168,000. Finally, Bulldog Investors LLP boosted its stake in Logan Ridge Finance by 58.9% in the fourth quarter. Bulldog Investors LLP now owns 219,366 shares of the company’s stock valued at $5,446,000 after acquiring an additional 81,300 shares during the period. 30.87% of the stock is currently owned by institutional investors and hedge funds.

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.