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

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) saw a significant drop in short interest in the month of February. As of February 13th, there was short interest totaling 4,916 shares, a drop of 40.2% from the January 29th total of 8,225 shares. Based on an average daily volume of 21,338 shares, the short-interest ratio is presently 0.2 days. Currently, 0.1% of the shares of the stock are sold short. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 21,338 shares, the short-interest ratio is presently 0.2 days.

Manhattan Bridge Capital Stock Performance

Shares of NASDAQ:LOAN traded down $0.07 during midday trading on Friday, hitting $4.38. The company’s stock had a trading volume of 22,918 shares, compared to its average volume of 19,471. The company has a market cap of $50.11 million, a P/E ratio of 9.52 and a beta of 0.25. Manhattan Bridge Capital has a 12-month low of $4.29 and a 12-month high of $6.05. The business’s 50 day simple moving average is $4.57 and its 200 day simple moving average is $4.92.

Manhattan Bridge Capital Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 8th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 10.0%. The ex-dividend date is Wednesday, April 8th. Manhattan Bridge Capital’s payout ratio is currently 100.00%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Manhattan Bridge Capital in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Hedge Funds Weigh In On Manhattan Bridge Capital

A number of institutional investors have recently added to or reduced their stakes in the stock. Beese Fulmer Investment Management Inc. boosted its stake in Manhattan Bridge Capital by 200.9% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 343,376 shares of the credit services provider’s stock worth $1,597,000 after buying an additional 229,244 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Manhattan Bridge Capital by 28.8% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 363,572 shares of the credit services provider’s stock worth $1,996,000 after acquiring an additional 81,220 shares during the period. Melia Wealth LLC boosted its position in shares of Manhattan Bridge Capital by 15.3% during the 3rd quarter. Melia Wealth LLC now owns 436,465 shares of the credit services provider’s stock valued at $2,394,000 after acquiring an additional 57,932 shares during the last quarter. Certuity LLC purchased a new stake in shares of Manhattan Bridge Capital in the second quarter valued at about $306,000. Finally, Frazier Financial Advisors LLC increased its position in Manhattan Bridge Capital by 173.4% during the fourth quarter. Frazier Financial Advisors LLC now owns 79,637 shares of the credit services provider’s stock worth $370,000 after purchasing an additional 50,511 shares during 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.