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

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) saw a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 22,237 shares, a drop of 41.1% from the July 30th total of 37,755 shares. Based on an average trading volume of 25,549 shares, the short-interest ratio is currently 0.9 days. Approximately 0.3% of the shares of the company are sold short.

Insider Activity at Manhattan Bridge Capital

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its stake in Manhattan Bridge Capital by 8.8% in the 4th quarter. International Assets Investment Management LLC now owns 29,595 shares of the credit services provider’s stock valued at $138,000 after acquiring an additional 2,384 shares during the last quarter. Geode Capital Management LLC raised its position in Manhattan Bridge Capital by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 112,087 shares of the credit services provider’s stock worth $521,000 after acquiring an additional 3,046 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in shares of Manhattan Bridge Capital by 140.7% in the second quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider’s stock valued at $31,000 after purchasing an additional 3,292 shares in the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of Manhattan Bridge Capital by 28.3% in 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. Finally, Renaissance Technologies LLC grew its position in shares of Manhattan Bridge Capital by 4.5% in 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 during the last quarter. 21.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Manhattan Bridge Capital Stock Down 1.0%

LOAN stock traded down $0.04 on Monday, reaching $4.03. 9,385 shares of the company’s stock were exchanged, compared to its average volume of 29,446. The stock has a fifty day moving average of $4.25 and a 200-day moving average of $4.33. The firm has a market cap of $46.06 million, a PE ratio of 9.60 and a beta of 0.16. Manhattan Bridge Capital has a twelve month low of $3.90 and a twelve month high of $5.80.

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

Manhattan Bridge Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 8th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 10.9%. The ex-dividend date is Thursday, October 8th. Manhattan Bridge Capital’s dividend payout ratio (DPR) is currently 104.76%.

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.