Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) Short Interest Update

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) saw a significant decline in short interest in July. As of July 31st, there was short interest totalling 47,600 shares, a decline of 17.5% from the July 15th total of 57,700 shares. Approximately 0.6% of the shares of the stock are short sold. Based on an average daily volume of 24,900 shares, the days-to-cover ratio is presently 1.9 days.

Manhattan Bridge Capital Stock Performance

Manhattan Bridge Capital stock traded up $0.11 during trading on Friday, hitting $5.32. The company’s stock had a trading volume of 11,606 shares, compared to its average volume of 21,888. The stock’s fifty day moving average is $5.23 and its 200 day moving average is $5.06. Manhattan Bridge Capital has a 1-year low of $4.27 and a 1-year high of $5.59. The stock has a market capitalization of $60.86 million, a price-to-earnings ratio of 10.64 and a beta of 0.59.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its quarterly earnings results on Monday, July 22nd. The credit services provider reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. The company had revenue of $2.44 million for the quarter. Manhattan Bridge Capital had a net margin of 56.72% and a return on equity of 13.20%.

Manhattan Bridge Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 8th will be given a dividend of $0.115 per share. The ex-dividend date is Tuesday, October 8th. This represents a $0.46 dividend on an annualized basis and a yield of 8.65%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is 92.00%.

Hedge Funds Weigh In On Manhattan Bridge Capital

Hedge funds and other institutional investors have recently made changes to their positions in the business. National Bank of Canada FI boosted its holdings in Manhattan Bridge Capital by 195.0% in the 4th quarter. National Bank of Canada FI now owns 5,900 shares of the credit services provider’s stock worth $28,000 after acquiring an additional 3,900 shares during the period. Certuity LLC purchased a new position in shares of Manhattan Bridge Capital in the fourth quarter valued at $54,000. Riversedge Advisors LLC acquired a new stake in Manhattan Bridge Capital during the 2nd quarter valued at $68,000. Virtu Financial LLC purchased a new stake in Manhattan Bridge Capital during the 1st quarter worth $69,000. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in Manhattan Bridge Capital by 67.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 17,133 shares of the credit services provider’s stock worth $82,000 after buying an additional 6,923 shares in the last quarter. Institutional investors and hedge funds own 21.84% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Manhattan Bridge Capital in a research note on Friday, August 2nd. They issued a “strong-buy” rating on the stock.

About Manhattan Bridge Capital

Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. The company offers short-term, secured, and non-banking loans to real estate investors to fund acquisition, renovation, rehabilitation, or development of residential or commercial properties.