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

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 9,300 shares, an increase of 69.1% from the February 28th total of 5,500 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 14,000 shares, the days-to-cover ratio is currently 0.7 days.

Manhattan Bridge Capital Trading Down 0.3 %

NASDAQ:LOAN traded down $0.02 on Friday, hitting $5.82. 11,816 shares of the company’s stock traded hands, compared to its average volume of 18,736. The company has a market cap of $66.57 million, a PE ratio of 11.88 and a beta of 0.48. Manhattan Bridge Capital has a 1 year low of $4.89 and a 1 year high of $5.90. The firm has a 50-day moving average price of $5.64 and a 200-day moving average price of $5.52.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its quarterly earnings results on Wednesday, March 12th. The credit services provider reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). The company 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 8th will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 7.90%. The ex-dividend date of this dividend is Tuesday, April 8th. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 95.83%.

Institutional Trading of Manhattan Bridge Capital

A number of institutional investors have recently bought and sold shares of LOAN. Advisory Services Network LLC acquired a new position in Manhattan Bridge Capital in the 4th quarter worth about $97,000. OLIO Financial Planning bought a new stake in shares of Manhattan Bridge Capital in the 4th quarter valued at approximately $117,000. NewEdge Advisors LLC increased its holdings in Manhattan Bridge Capital by 28.4% in the fourth quarter. NewEdge Advisors LLC now owns 28,074 shares of the credit services provider’s stock worth $157,000 after buying an additional 6,215 shares during the last quarter. Atria Wealth Solutions Inc. raised its position in Manhattan Bridge Capital by 13.5% during the fourth quarter. Atria Wealth Solutions Inc. now owns 27,885 shares of the credit services provider’s stock valued at $159,000 after acquiring an additional 3,324 shares in the last quarter. Finally, LPL Financial LLC acquired a new stake in Manhattan Bridge Capital in the fourth quarter valued at approximately $169,000. Institutional investors and hedge funds own 21.84% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Manhattan Bridge Capital in a research report on Sunday, March 23rd. They issued a “strong-buy” rating for the company.

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.