Manhattan Bridge Capital, Inc (NASDAQ:LOAN) Short Interest Down 58.4% in April

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) was the target of a significant drop in short interest during the month of April. As of April 30th, there was short interest totaling 9,130 shares, a drop of 58.4% from the April 15th total of 21,927 shares. Based on an average daily trading volume, of 19,824 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.1% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Manhattan Bridge Capital from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Manhattan Bridge Capital Price Performance

Shares of NASDAQ LOAN remained flat at $4.22 during mid-day trading on Friday. The stock had a trading volume of 16,733 shares, compared to its average volume of 28,352. The firm has a market capitalization of $48.23 million, a P/E ratio of 9.59 and a beta of 0.18. Manhattan Bridge Capital has a one year low of $4.13 and a one year high of $5.85. The business’s 50-day simple moving average is $4.40 and its 200-day simple moving average is $4.57.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its quarterly earnings data on Thursday, April 16th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.01). The business had revenue of $2.07 million for the quarter, compared to the consensus estimate of $2.18 million. Manhattan Bridge Capital had a net margin of 59.24% and a return on equity of 11.59%.

Manhattan Bridge Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 8th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, July 8th. This represents a $0.44 annualized dividend and a yield of 10.4%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is currently 100.00%.

Institutional Investors Weigh In On Manhattan Bridge Capital

Large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its position in Manhattan Bridge Capital by 4.5% during the fourth quarter. Renaissance Technologies LLC now owns 181,728 shares of the credit services provider’s stock valued at $845,000 after purchasing an additional 7,900 shares in the last quarter. Gen Wealth Partners Inc purchased a new stake in Manhattan Bridge Capital during the fourth quarter valued at about $161,000. Citadel Advisors LLC purchased a new stake in Manhattan Bridge Capital during the third quarter valued at about $149,000. Moneta Group Investment Advisors LLC raised its position in Manhattan Bridge Capital by 72.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 31,310 shares of the credit services provider’s stock valued at $146,000 after purchasing an additional 13,139 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its position in Manhattan Bridge Capital by 28.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 19,516 shares of the credit services provider’s stock valued at $91,000 after purchasing an additional 4,300 shares in the last quarter. Hedge funds and other institutional investors own 21.84% of the company’s stock.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc (NASDAQ: LOAN) is a publicly traded business development company (BDC) that specializes in providing financing solutions to small and medium-sized businesses across the United States. The firm structures short-term bridge loans, senior secured debt and mezzanine debt facilities to support clients’ growth initiatives, working capital needs and acquisition financing requirements. Its investment approach is designed to deliver flexible, asset-backed financing tailored to the unique cash-flow profiles of its portfolio companies.

Operating primarily from its New York headquarters, Manhattan Bridge Capital partners with businesses in a variety of sectors, including business services, consumer products, healthcare and industrial manufacturing.