Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) Sees Large Decrease in Short Interest

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) saw a significant drop in short interest during the month of February. As of February 15th, there was short interest totalling 5,100 shares, a drop of 50.0% from the January 31st total of 10,200 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily volume of 16,200 shares, the days-to-cover ratio is currently 0.3 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Manhattan Bridge Capital in a research note on Thursday. They issued a “strong-buy” rating on the stock.

Institutional Trading of Manhattan Bridge Capital

Several large investors have recently bought and sold shares of the company. Gen Wealth Partners Inc boosted its position in Manhattan Bridge Capital by 5.1% during the 4th quarter. Gen Wealth Partners Inc now owns 38,740 shares of the credit services provider’s stock valued at $217,000 after acquiring an additional 1,896 shares in the last quarter. Cary Street Partners Financial LLC bought a new stake in Manhattan Bridge Capital during the 4th quarter valued at approximately $1,684,000. NewEdge Advisors LLC boosted its position in Manhattan Bridge Capital by 28.4% during the 4th quarter. NewEdge Advisors LLC now owns 28,074 shares of the credit services provider’s stock valued at $157,000 after acquiring an additional 6,215 shares in the last quarter. Melia Wealth LLC boosted its position in Manhattan Bridge Capital by 3.0% during the 4th quarter. Melia Wealth LLC now owns 351,140 shares of the credit services provider’s stock valued at $1,966,000 after acquiring an additional 10,301 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Manhattan Bridge Capital during the fourth quarter valued at approximately $97,000. 21.84% of the stock is owned by institutional investors.

Manhattan Bridge Capital Trading Down 0.2 %

Manhattan Bridge Capital stock traded down $0.01 during trading hours on Monday, hitting $5.57. 10,245 shares of the stock traded hands, compared to its average volume of 12,261. The firm’s 50-day moving average price is $5.60 and its two-hundred day moving average price is $5.46. The company has a market cap of $63.72 million, a PE ratio of 11.37 and a beta of 0.55. Manhattan Bridge Capital has a one year low of $4.60 and a one year high of $5.90.

Manhattan Bridge Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 8th will be given a dividend of $0.115 per share. The ex-dividend date is Tuesday, April 8th. This represents a $0.46 annualized dividend and a yield of 8.26%. Manhattan Bridge Capital’s payout ratio is 93.88%.

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.