Manhattan Bridge Capital, Inc (NASDAQ:LOAN) Short Interest Update
by Doug Wharley · The Cerbat GemManhattan Bridge Capital, Inc (NASDAQ:LOAN – Get Free Report) was the recipient of a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 14,881 shares, an increase of 153.7% from the February 26th total of 5,866 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily volume of 22,855 shares, the days-to-cover ratio is currently 0.7 days.
Manhattan Bridge Capital Stock Performance
NASDAQ LOAN traded up $0.10 during trading on Friday, hitting $4.45. The stock had a trading volume of 14,213 shares, compared to its average volume of 22,006. Manhattan Bridge Capital has a one year low of $4.13 and a one year high of $6.05. The stock has a 50 day simple moving average of $4.43 and a 200 day simple moving average of $4.79. The stock has a market capitalization of $50.91 million, a price-to-earnings ratio of 9.67 and a beta of 0.25.
Manhattan Bridge Capital (NASDAQ:LOAN – Get Free Report) last issued its earnings results on Friday, March 27th. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. The firm had revenue of $0.00 million during the quarter, compared to analyst estimates of $2.11 million. Manhattan Bridge Capital had a net margin of 58.67% and a return on equity of 12.22%.
Manhattan Bridge Capital Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 8th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, April 8th. This represents a $0.44 dividend on an annualized basis and a yield of 9.9%. Manhattan Bridge Capital’s dividend payout ratio is 100.00%.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in LOAN. International Assets Investment Management LLC lifted its position in shares of 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 worth $138,000 after purchasing an additional 2,384 shares during the period. Geode Capital Management LLC increased its holdings 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 valued at $521,000 after buying an additional 3,046 shares during the period. Osaic Holdings Inc. increased its holdings in Manhattan Bridge Capital by 140.7% during the second quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider’s stock valued at $31,000 after buying an additional 3,292 shares during the period. Bridgeway Capital Management LLC raised its stake in 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 worth $91,000 after buying an additional 4,300 shares in the last quarter. Finally, Fortress Financial Solutions LLC lifted its holdings in Manhattan Bridge Capital by 3.9% during the second quarter. Fortress Financial Solutions LLC now owns 120,282 shares of the credit services provider’s stock worth $658,000 after buying an additional 4,522 shares during the period. Hedge funds and other institutional investors own 21.84% of the company’s stock.
Wall Street Analyst Weigh In
Separately, Weiss Ratings restated a “hold (c)” rating on shares of Manhattan Bridge Capital in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold”.
Read Our Latest Stock Report on Manhattan Bridge Capital
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.