Logan Ridge Finance (NASDAQ:LRFC) Trading Down 0.6% – Here’s Why

Logan Ridge Finance Co. (NASDAQ:LRFC) shares dropped 0.6% during mid-day trading on Monday . The stock traded as low as $23.64 and last traded at $23.92. Approximately 8,240 shares traded hands during trading, an increase of 13% from the average daily volume of 7,267 shares. The stock had previously closed at $24.07.

Logan Ridge Finance Stock Up 3.9 %

The company has a market cap of $65.36 million, a P/E ratio of -19.43 and a beta of 1.26. The stock has a 50-day moving average of $24.85 and a 200 day moving average of $23.70. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.12 and a quick ratio of 0.12.

Logan Ridge Finance (NASDAQ:LRFC) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.37 earnings per share (EPS) for the quarter. Logan Ridge Finance had a negative net margin of 16.43% and a positive return on equity of 3.69%. The business had revenue of $5.15 million for the quarter. During the same period last year, the business earned $0.43 earnings per share. Research analysts anticipate that Logan Ridge Finance Co. will post 1.37 earnings per share for the current year.

Logan Ridge Finance Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 19th were given a dividend of $0.36 per share. This is an increase from Logan Ridge Finance’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a dividend yield of 5.88%. The ex-dividend date of this dividend was Tuesday, November 19th. Logan Ridge Finance’s dividend payout ratio is currently -114.29%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Logan Ridge Finance stock. Empowered Funds LLC increased its position in Logan Ridge Finance Co. (NASDAQ:LRFC) by 5.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,130 shares of the company’s stock after buying an additional 670 shares during the quarter. Empowered Funds LLC owned 0.53% of Logan Ridge Finance worth $345,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 30.87% of the stock is 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.