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

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

Manhattan Bridge Capital Stock Performance

Manhattan Bridge Capital stock traded down $0.18 during midday trading on Monday, hitting $5.21. 18,752 shares of the company were exchanged, compared to its average volume of 19,834. Manhattan Bridge Capital has a fifty-two week low of $4.74 and a fifty-two week high of $6.05. The business has a fifty day simple moving average of $5.54 and a two-hundred day simple moving average of $5.51. The firm has a market capitalization of $59.60 million, a PE ratio of 10.63 and a beta of 0.26.

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

Manhattan Bridge Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 8th will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 8.83%. The ex-dividend date of this dividend is Tuesday, July 8th. Manhattan Bridge Capital’s dividend payout ratio is currently 95.83%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Manhattan Bridge Capital in a research report on Wednesday, April 16th. They issued a “strong-buy” rating on the stock.

Institutional Trading of Manhattan Bridge Capital

Several large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in shares of Manhattan Bridge Capital by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock valued at $635,000 after purchasing an additional 3,008 shares during the last quarter. Atria Wealth Solutions Inc. lifted its position in Manhattan Bridge Capital by 13.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 27,885 shares of the credit services provider’s stock valued at $159,000 after buying an additional 3,324 shares during the last quarter. Fortress Financial Solutions LLC purchased a new position in Manhattan Bridge Capital during the fourth quarter worth about $685,000. OLIO Financial Planning acquired a new stake in shares of Manhattan Bridge Capital during the fourth quarter valued at about $117,000. Finally, Hardy Reed LLC raised its stake in shares of Manhattan Bridge Capital by 7.8% in the 4th quarter. Hardy Reed LLC now owns 370,499 shares of the credit services provider’s stock valued at $2,075,000 after acquiring an additional 26,733 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, 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.