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 March. As of March 31st, there was short interest totaling 18,681 shares, an increase of 25.5% from the March 15th total of 14,881 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 20,210 shares, the days-to-cover ratio is currently 0.9 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Manhattan Bridge Capital in a research note on Friday, April 10th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Institutional Trading of Manhattan Bridge Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. lifted its stake in Manhattan Bridge Capital by 140.7% in the second quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider’s stock worth $31,000 after acquiring an additional 3,292 shares during the period. RW Investment Management LLC purchased a new stake in Manhattan Bridge Capital in the third quarter worth $71,000. Bridgeway Capital Management LLC lifted 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 acquiring an additional 4,300 shares during the period. Briaud Financial Planning Inc purchased a new stake in Manhattan Bridge Capital in the third quarter worth $136,000. Finally, Rothschild Wealth LLC purchased a new stake in Manhattan Bridge Capital in the fourth quarter worth $118,000. Hedge funds and other institutional investors own 21.84% of the company’s stock.

Manhattan Bridge Capital Stock Performance

NASDAQ:LOAN traded up $0.02 during midday trading on Friday, reaching $4.64. 20,991 shares of the stock traded hands, compared to its average volume of 34,493. The company has a fifty day moving average of $4.43 and a 200 day moving average of $4.70. Manhattan Bridge Capital has a 12 month low of $4.13 and a 12 month high of $5.85. The stock has a market capitalization of $53.04 million, a P/E ratio of 10.55 and a beta of 0.21.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its quarterly earnings results on Thursday, April 16th. The credit services provider reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). Manhattan Bridge Capital had a net margin of 59.24% and a return on equity of 11.58%. The firm had revenue of $2.07 million for the quarter, compared to the consensus estimate of $2.18 million.

Manhattan Bridge Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 8th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, July 8th. This represents a $0.44 dividend on an annualized basis and a yield of 9.5%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 97.78%.

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.