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

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 42,900 shares, an increase of 393.1% from the September 15th total of 8,700 shares. Based on an average daily volume of 46,700 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.5% of the company’s stock are sold short.

LOAN has been the topic of a number of recent research reports. TheStreet cut shares of Manhattan Bridge Capital from a “b” rating to a “c+” rating in a report on Wednesday, August 4th. Maxim Group reissued a “buy” rating and set a $7.00 target price on shares of Manhattan Bridge Capital in a research report on Friday, July 23rd.

NASDAQ:LOAN traded up $0.02 during mid-day trading on Thursday, reaching $6.41. 37,981 shares of the stock were exchanged, compared to its average volume of 42,738. The business has a fifty day moving average price of $6.46 and a 200 day moving average price of $6.51. The firm has a market capitalization of $73.68 million, a PE ratio of 14.24 and a beta of 0.72. Manhattan Bridge Capital has a 1-year low of $4.11 and a 1-year high of $8.05.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its quarterly earnings data on Thursday, July 22nd. The credit services provider reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.01). Manhattan Bridge Capital had a net margin of 61.18% and a return on equity of 13.06%.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Friday, October 8th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Thursday, October 7th. This represents a $0.50 annualized dividend and a dividend yield of 7.80%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LOAN. Intelligence Driven Advisers LLC acquired a new stake in shares of Manhattan Bridge Capital in the 2nd quarter valued at $2,006,000. Bard Associates Inc. boosted its holdings in shares of Manhattan Bridge Capital by 5.9% during the 2nd quarter. Bard Associates Inc. now owns 234,994 shares of the credit services provider’s stock valued at $1,845,000 after acquiring an additional 13,020 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Manhattan Bridge Capital by 3.1% during the 1st quarter. Renaissance Technologies LLC now owns 159,329 shares of the credit services provider’s stock worth $972,000 after buying an additional 4,738 shares during the period. Clear Creek Financial Management LLC bought a new stake in Manhattan Bridge Capital in the 2nd quarter valued at about $61,000. Finally, BlackRock Inc. increased its holdings in Manhattan Bridge Capital by 11.8% during the 1st quarter. BlackRock Inc. now owns 24,822 shares of the credit services provider’s stock worth $151,000 after purchasing an additional 2,618 shares in the last quarter. 12.49% of the stock is owned by institutional investors.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc engages in originating, servicing, and managing a portfolio of first mortgage loans. It offers short-term, secured, non-banking loans to real estate investors to fund their acquisition and construction of properties located in the New York Metropolitan area. The company was founded by Assaf N.

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