Logan Ridge Finance Co. (NASDAQ:LRFC – Get Rating) was the target of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totalling 400 shares, a decrease of 69.2% from the April 30th total of 1,300 shares. Based on an average daily volume of 10,200 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the company’s shares are short sold.
A number of institutional investors and hedge funds have recently made changes to their positions in LRFC. Advisor Group Holdings Inc. bought a new position in shares of Logan Ridge Finance in the 3rd quarter worth about $75,000. Russell Investments Group Ltd. purchased a new position in shares of Logan Ridge Finance in the 3rd quarter worth approximately $40,000. O Shaughnessy Asset Management LLC purchased a new position in Logan Ridge Finance in the third quarter valued at approximately $183,000. Mariner Investment Group LLC bought a new stake in Logan Ridge Finance during the 3rd quarter valued at $1,088,000. Finally, Morgan Stanley bought a new stake in Logan Ridge Finance during the 3rd quarter valued at $221,000. 17.41% of the stock is currently owned by hedge funds and other institutional investors.
LRFC has been the subject of several recent research reports. Zacks Investment Research raised Logan Ridge Finance from a “sell” rating to a “hold” rating in a research report on Wednesday. TheStreet lowered Logan Ridge Finance from a “c-” rating to a “d+” rating in a research note on Tuesday, May 17th.
Logan Ridge Finance (NASDAQ:LRFC – Get Rating) last posted its quarterly earnings data on Monday, March 14th. The company reported ($0.48) EPS for the quarter. Logan Ridge Finance had a negative return on equity of 3.53% and a negative net margin of 100.60%. The company had revenue of $3.41 million for the quarter. Research analysts predict that Logan Ridge Finance will post -0.44 EPS for the current fiscal year.
About Logan Ridge Finance (Get Rating)
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, equity investments in sponsored companies. The fund targets companies in the Aerospace, defense, business services, education, food and beverage, Industrial & Environmental Services, logistics, distribution, media, telecommunication, manufacturing, consumer goods and health-care industries.
- Get a free copy of the StockNews.com research report on Logan Ridge Finance (LRFC)
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