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

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) was the target of a significant drop in short interest in September. As of September 15th, there was short interest totaling 10,871 shares, a drop of 42.4% from the August 31st total of 18,868 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 22,186 shares, the short-interest ratio is presently 0.5 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Manhattan Bridge Capital from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Manhattan Bridge Capital Stock Up 1.1%

Manhattan Bridge Capital stock opened at $3.79 on Friday. Manhattan Bridge Capital has a 52-week low of $3.54 and a 52-week high of $5.80. The firm has a market capitalization of $43.32 million, a price-to-earnings ratio of 9.02 and a beta of 0.20. The company has a fifty day simple moving average of $4.04 and a 200-day simple moving average of $4.25.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its quarterly earnings results on Thursday, July 23rd. The credit services provider reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). Manhattan Bridge Capital had a return on equity of 11.02% and a net margin of 58.30%.The business had revenue of $0.00 million during the quarter, compared to analysts’ expectations of $2.04 million.

Manhattan Bridge Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 8th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 11.6%. The ex-dividend date is Thursday, October 8th. Manhattan Bridge Capital’s payout ratio is currently 104.76%.

Insider Transactions at Manhattan Bridge Capital

In related news, CEO Assaf Ran bought 8,000 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were acquired at an average price of $3.99 per share, for a total transaction of $31,920.00. Following the completion of the transaction, the chief executive officer directly owned 1,235,000 shares in the company, valued at $4,927,650. This trade represents a 0.65% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 24.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Manhattan Bridge Capital

Large investors have recently made changes to their positions in the stock. RW Investment Management LLC purchased a new position in Manhattan Bridge Capital during the second quarter worth approximately $59,000. Eclectic Associates Inc. ADV purchased a new stake in Manhattan Bridge Capital in the 2nd quarter valued at $190,000. BlackRock Inc. acquired a new stake in shares of Manhattan Bridge Capital in the 2nd quarter worth $198,000. Renaissance Technologies LLC increased its stake in shares of Manhattan Bridge Capital by 7.9% in the 1st quarter. Renaissance Technologies LLC now owns 196,018 shares of the credit services provider’s stock worth $872,000 after acquiring an additional 14,290 shares during the last quarter. Finally, Frazier Financial Advisors LLC raised its holdings in shares of Manhattan Bridge Capital by 156.0% during the 1st quarter. Frazier Financial Advisors LLC now owns 203,866 shares of the credit services provider’s stock worth $907,000 after acquiring an additional 124,229 shares during the period. 21.84% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) is a real estate finance company that originates, services and manages short-term, secured loans. Its lending activities primarily involve first mortgage loans backed by residential, multifamily and commercial properties.

The company generally provides financing to real estate investors and developers, including borrowers who may not be served by traditional banks. Its loans are secured by the underlying property and are intended to support acquisitions, renovations, construction and other real estate-related activities.

Manhattan Bridge Capital has historically focused on properties in the New York metropolitan area, including New York City and surrounding markets.