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

by · The Cerbat Gem

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

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Manhattan Bridge Capital in a research report on Wednesday. They set a “strong-buy” rating on the stock.

Check Out Our Latest Analysis on LOAN

Institutional Investors Weigh In On Manhattan Bridge Capital

Several hedge funds have recently modified their holdings of LOAN. Hardy Reed LLC grew its holdings in Manhattan Bridge Capital by 7.8% in the fourth quarter. Hardy Reed LLC now owns 370,499 shares of the credit services provider’s stock valued at $2,075,000 after purchasing an additional 26,733 shares during the period. Melia Wealth LLC lifted its holdings in Manhattan Bridge Capital by 3.0% during the fourth quarter. Melia Wealth LLC now owns 351,140 shares of the credit services provider’s stock valued at $1,966,000 after purchasing an additional 10,301 shares in the last quarter. Cary Street Partners Financial LLC purchased a new stake in shares of Manhattan Bridge Capital during the fourth quarter worth about $1,684,000. Avant Financial Advisors LLC purchased a new position in Manhattan Bridge Capital in the 4th quarter valued at about $1,626,000. Finally, Beese Fulmer Investment Management Inc. increased its stake in Manhattan Bridge Capital by 9.7% during the 4th quarter. Beese Fulmer Investment Management Inc. now owns 142,597 shares of the credit services provider’s stock worth $799,000 after buying an additional 12,616 shares in the last quarter. 21.84% of the stock is owned by hedge funds and other institutional investors.

Manhattan Bridge Capital Trading Up 1.7 %

Shares of LOAN traded up $0.09 during midday trading on Friday, hitting $5.39. 8,510 shares of the company’s stock traded hands, compared to its average volume of 19,839. Manhattan Bridge Capital has a 1 year low of $4.74 and a 1 year high of $6.05. The firm’s fifty day moving average is $5.54 and its 200-day moving average is $5.51. The stock has a market capitalization of $61.66 million, a price-to-earnings ratio of 11.00 and a beta of 0.26.

Manhattan Bridge Capital (NASDAQ:LOAN – Get Free Report) last posted its quarterly earnings data on Wednesday, March 12th. The credit services provider reported $0.11 earnings per share (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 net margin of 56.93% and a return on equity of 13.06%.

Manhattan Bridge Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 8th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 8.53%. The ex-dividend date was Tuesday, April 8th. Manhattan Bridge Capital’s payout ratio is 95.83%.

Manhattan Bridge Capital Company Profile

(Get Free Report)

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.

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