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

Mount Logan Capital Inc. (NASDAQ:MLCI) was the recipient of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 105,226 shares, an increase of 72.8% from the July 15th total of 60,879 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average daily trading volume, of 9,552 shares, the short-interest ratio is currently 11.0 days.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MLCI. Weiss Ratings assumed coverage on Mount Logan Capital in a report on Tuesday, May 26th. They issued a “sell (d-)” rating for the company. Wall Street Zen raised shares of Mount Logan Capital from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 27th. Finally, Capital One Financial set a $8.00 price target on shares of Mount Logan Capital in a report on Thursday, June 25th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell” and a consensus price target of $8.00.

Mount Logan Capital Trading Down 2.9%

Shares of NASDAQ:MLCI traded down $0.09 on Tuesday, reaching $3.03. The company had a trading volume of 3,879 shares, compared to its average volume of 59,490. Mount Logan Capital has a 52-week low of $2.56 and a 52-week high of $8.74. The firm’s 50 day simple moving average is $3.16 and its 200-day simple moving average is $4.92. The firm has a market capitalization of $33.91 million and a PE ratio of -0.45.

Mount Logan Capital (NASDAQ:MLCI) last issued its quarterly earnings data 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 company had revenue of $8.75 million for the quarter.

Mount Logan Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 21st will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, August 21st. Mount Logan Capital’s dividend payout ratio is presently -1.80%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Mount Logan Capital during the second quarter valued at approximately $274,000. Punch & Associates Investment Management Inc. purchased a new position in Mount Logan Capital in the second quarter worth $635,000. Finally, JB Capital Partners LP acquired a new position in shares of Mount Logan Capital during the second quarter worth $1,839,468,000.

Mount Logan Capital Company Profile

Mount Logan Capital Inc is an alternative asset management company that focuses on investing in, originating, and managing credit and private debt opportunities. The company’s activities are centered on providing capital solutions across a range of specialty finance and investment strategies, with an emphasis on generating income and preserving capital through disciplined credit underwriting.

The company operates through a combination of investment management and direct lending activities, and it may participate in a variety of asset classes, including structured credit, specialty finance, and other private market opportunities.