Mount Logan Capital Inc. (NASDAQ:MLCI) Sees Large Decrease in Short Interest

Mount Logan Capital Inc. (NASDAQ:MLCI) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 51,400 shares, a decline of 36.8% from the September 15th total of 81,288 shares. Based on an average daily volume of 22,169 shares, the short-interest ratio is presently 2.3 days. Currently, 0.5% of the shares of the company are sold short.

Hedge Funds Weigh In On Mount Logan Capital

Large investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC grew its position in shares of Mount Logan Capital by 1.8% in the second quarter. HighTower Advisors LLC now owns 286,393 shares of the company’s stock valued at $985,000 after purchasing an additional 5,069 shares during the period. Punch & Associates Investment Management Inc. purchased a new position in Mount Logan Capital in the 2nd quarter valued at about $635,000. JB Capital Partners LP purchased a new position in Mount Logan Capital in the 2nd quarter valued at about $1,839,468. Finally, BlackRock Inc. purchased a new position in Mount Logan Capital in the 2nd quarter valued at about $274,000.

Analysts Set New Price Targets

MLCI has been the subject of a number of analyst reports. Weiss Ratings downgraded shares of Mount Logan Capital from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, October 8th. Capital One Financial set a $8.00 target price on shares of Mount Logan Capital in a research note on Thursday, June 25th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, Mount Logan Capital currently has an average rating of “Sell” and an average price target of $8.00.

Mount Logan Capital Trading Up 3.5%

MLCI traded up $0.11 during trading on Friday, hitting $3.28. The company’s stock had a trading volume of 2,970 shares, compared to its average volume of 17,413. Mount Logan Capital has a twelve month low of $2.56 and a twelve month high of $8.68. The business’s fifty day simple moving average is $3.20 and its 200 day simple moving average is $3.54. The firm has a market capitalization of $36.70 million and a price-to-earnings ratio of -0.49.

Mount Logan Capital (NASDAQ:MLCI) last announced its earnings results on Tuesday, August 11th. The company reported ($0.37) earnings per share for the quarter. Mount Logan Capital had a negative return on equity of 72.32% and a negative net margin of 155.36%. The business had revenue of $8.75 million for the quarter.

Mount Logan Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 21st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Friday, August 21st. Mount Logan Capital’s payout ratio is presently -1.80%.

About Mount Logan Capital

Mount Logan Capital Corp. (NASDAQ: MLCI) is a specialty finance company focused on investing in and managing credit-related assets. Its activities have included providing capital to middle-market businesses and acquiring portfolios of private credit, loans, asset-backed securities and other debt investments.

The company has also pursued opportunities in the insurance and asset-management sectors, seeking to generate returns through a diversified portfolio of credit and insurance-related investments.