Short Interest in Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) Rises By 24.7%

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 11,600 shares, an increase of 24.7% from the March 15th total of 9,300 shares. Based on an average trading volume of 17,300 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.1% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Manhattan Bridge Capital in a research report on Wednesday. They set a “strong-buy” rating for the company.

Hedge Funds Weigh In On Manhattan Bridge Capital

Large investors have recently made changes to their positions in the stock. Advisory Services Network LLC acquired a new stake in Manhattan Bridge Capital in the 4th quarter valued at approximately $97,000. OLIO Financial Planning acquired a new stake in shares of Manhattan Bridge Capital in the fourth quarter valued at $117,000. NewEdge Advisors LLC raised its holdings in shares of Manhattan Bridge Capital by 28.4% in the 4th quarter. NewEdge Advisors LLC now owns 28,074 shares of the credit services provider’s stock valued at $157,000 after buying an additional 6,215 shares during the period. Atria Wealth Solutions Inc. lifted its stake in Manhattan Bridge Capital by 13.5% during the 4th quarter. Atria Wealth Solutions Inc. now owns 27,885 shares of the credit services provider’s stock worth $159,000 after acquiring an additional 3,324 shares in the last quarter. Finally, LPL Financial LLC purchased a new position in Manhattan Bridge Capital during the 4th quarter valued at about $169,000. 21.84% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Bridge Capital Price Performance

Shares of LOAN stock traded up $0.09 during trading on Friday, hitting $5.39. 8,510 shares of the stock traded hands, compared to its average volume of 19,839. The firm has a market capitalization of $61.66 million, a P/E ratio of 11.00 and a beta of 0.26. Manhattan Bridge Capital has a 52-week low of $4.74 and a 52-week high of $6.05. The firm’s fifty day moving average price is $5.54 and its 200-day moving average price is $5.51.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its quarterly earnings results on Wednesday, March 12th. The credit services provider reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). The business had revenue of $2.36 million during the quarter. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%.

Manhattan Bridge Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 8th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.53%. The ex-dividend date of this dividend was Tuesday, April 8th. Manhattan Bridge Capital’s dividend payout ratio is presently 95.83%.

Manhattan Bridge Capital Company Profile

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.