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

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) was the recipient of a large decrease in short interest during the month of April. As of April 30th, there was short interest totaling 9,130 shares, a decrease of 58.4% from the April 15th total of 21,927 shares. Based on an average daily trading volume, of 19,824 shares, the short-interest ratio is presently 0.5 days. Approximately 0.1% of the shares of the company are short sold.

Manhattan Bridge Capital Price Performance

NASDAQ:LOAN opened at $4.22 on Friday. The business’s 50-day moving average price is $4.40 and its two-hundred day moving average price is $4.57. Manhattan Bridge Capital has a twelve month low of $4.13 and a twelve month high of $5.85. The stock has a market cap of $48.23 million, a P/E ratio of 9.59 and a beta of 0.18.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its quarterly earnings results on Thursday, April 16th. The credit services provider reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.01). Manhattan Bridge Capital had a net margin of 59.24% and a return on equity of 11.59%. The business had revenue of $2.07 million during the quarter, compared to analysts’ expectations of $2.18 million.

Manhattan Bridge Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 8th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, July 8th. This represents a $0.44 annualized dividend and a dividend yield of 10.4%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 100.00%.

Institutional Trading of Manhattan Bridge Capital

Institutional investors and hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. raised its holdings in shares of Manhattan Bridge Capital by 140.7% in the 2nd quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider’s stock valued at $31,000 after acquiring an additional 3,292 shares in the last quarter. RW Investment Management LLC bought a new position in shares of Manhattan Bridge Capital during the 3rd quarter valued at about $71,000. Bridgeway Capital Management LLC increased its position in shares of Manhattan Bridge Capital by 28.3% during the 4th 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 during the last quarter. Briaud Financial Planning Inc bought a new position in shares of Manhattan Bridge Capital during the 3rd quarter valued at about $136,000. Finally, Rothschild Wealth LLC bought a new position in shares of Manhattan Bridge Capital during the 4th quarter valued at about $118,000. Hedge funds and other institutional investors own 21.84% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Manhattan Bridge Capital from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold”.

About Manhattan Bridge Capital

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.