Mount Logan Capital Inc. (NASDAQ:MLCI) Stock Short Interest Falls 36.8%

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MLCI. Capital One Financial set a $8.00 target price on Mount Logan Capital in a report on Thursday, June 25th. Weiss Ratings lowered Mount Logan Capital from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Mount Logan Capital has an average rating of “Sell” and a consensus target price of $8.00.

Mount Logan Capital Trading Up 1.0%

Shares of MLCI stock opened at $3.17 on Friday. Mount Logan Capital has a 1 year low of $2.56 and a 1 year high of $8.68. The firm’s 50 day moving average is $3.20 and its 200-day moving average is $3.55.

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

Mount Logan Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 21st were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, August 21st. Mount Logan Capital’s dividend payout ratio (DPR) is -1.80%.

Hedge Funds Weigh In On Mount Logan Capital

Several large investors have recently made changes to their positions in MLCI. HighTower Advisors LLC boosted its holdings in 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 acquiring an additional 5,069 shares during the last quarter. BlackRock Inc. acquired a new stake in Mount Logan Capital in the second quarter worth about $274,000. Punch & Associates Investment Management Inc. acquired a new position in Mount Logan Capital during the 2nd quarter valued at about $635,000. Finally, JB Capital Partners LP bought a new position in shares of Mount Logan Capital in the 2nd quarter valued at about $1,839,468.

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.