25/09/2022

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Zacks Investment Research Downgrades Logan Ridge Finance (NASDAQ:LRFC) to Sell

Zacks Investment Research cut shares of Logan Ridge Finance (NASDAQ:LRFCGet Rating) from a hold rating to a sell rating in a research note published on Wednesday, Zacks.com reports.

According to Zacks, “Logan Ridge Finance Corporation is a business development company which invests primarily in first lien loans and, to a lesser extent, second lien loans and equity securities issued by lower middle market companies. Logan Ridge Finance Corporation, formerly known as Mount Logan Capital Inc., is based in TORONTO. “

NASDAQ LRFC opened at $22.01 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The company has a fifty day simple moving average of $24.73 and a 200 day simple moving average of $24.89. The company has a market cap of $59.65 million, a P/E ratio of -17.89 and a beta of 1.64. Logan Ridge Finance has a 1 year low of $15.22 and a 1 year high of $28.90.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Carroll Financial Associates Inc. boosted its holdings in shares of Logan Ridge Finance by 43.0% during the 4th quarter. Carroll Financial Associates Inc. now owns 173,462 shares of the company’s stock worth $4,029,000 after buying an additional 52,183 shares during the period. Mariner Investment Group LLC boosted its holdings in shares of Logan Ridge Finance by 42.3% during the 4th quarter. Mariner Investment Group LLC now owns 60,239 shares of the company’s stock worth $1,385,000 after buying an additional 17,919 shares during the period. Two Sigma Investments LP bought a new stake in Logan Ridge Finance in the 3rd quarter valued at $815,000. Two Sigma Advisers LP bought a new stake in Logan Ridge Finance in the 3rd quarter valued at $734,000. Finally, Morgan Stanley bought a new stake in Logan Ridge Finance in the 3rd quarter valued at $221,000. 16.29% of the stock is owned by institutional investors and hedge funds.

Logan Ridge Finance Company Profile (Get Rating)

Logan Ridge Finance Corp. is a business development company that provides capital to lower middle market companies located in the US with an EBITDA ranging from $5 million to $50 million and with revenues of at least $15 million. The fund targets companies operating in the fields of aerospace, defense, education, food, logistics, manufacturing, media, health care, and consumer and business services.

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