Short Interest in Manhattan Bridge Capital, Inc (NASDAQ:LOAN) Increases By 331.7%

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) was the target of a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 23,604 shares, a growth of 331.7% from the June 15th total of 5,468 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily volume of 26,654 shares, the short-interest ratio is currently 0.9 days.

Manhattan Bridge Capital Stock Down 0.5%

Shares of LOAN stock traded down $0.02 during mid-day trading on Friday, reaching $4.24. The stock had a trading volume of 22,922 shares, compared to its average volume of 38,611. Manhattan Bridge Capital has a one year low of $4.13 and a one year high of $5.80. The firm has a market cap of $48.46 million, a PE ratio of 9.64 and a beta of 0.14. The firm’s 50 day simple moving average is $4.33 and its 200 day simple moving average is $4.44.

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

Manhattan Bridge Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 8th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 10.4%. The ex-dividend date is Wednesday, July 8th. Manhattan Bridge Capital’s payout ratio is 100.00%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Manhattan Bridge Capital from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Manhattan Bridge Capital currently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Manhattan Bridge Capital

Hedge funds have recently made changes to their positions in the company. Melia Wealth LLC lifted its holdings in Manhattan Bridge Capital by 2.6% during the 4th quarter. Melia Wealth LLC now owns 447,638 shares of the credit services provider’s stock worth $2,082,000 after buying an additional 11,173 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Manhattan Bridge Capital by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 383,385 shares of the credit services provider’s stock valued at $2,116,000 after purchasing an additional 9,330 shares during the period. Mercer Global Advisors Inc. ADV increased its position in shares of Manhattan Bridge Capital by 28.8% during the third quarter. Mercer Global Advisors Inc. ADV now owns 363,572 shares of the credit services provider’s stock worth $1,996,000 after acquiring an additional 81,220 shares in the last quarter. Beese Fulmer Investment Management Inc. increased its holdings in Manhattan Bridge Capital by 200.9% during the 4th quarter. Beese Fulmer Investment Management Inc. now owns 343,376 shares of the credit services provider’s stock worth $1,597,000 after purchasing an additional 229,244 shares in the last quarter. Finally, Frazier Financial Advisors LLC grew its holdings in shares of Manhattan Bridge Capital by 156.0% during the first quarter. Frazier Financial Advisors LLC now owns 203,866 shares of the credit services provider’s stock worth $907,000 after buying an additional 124,229 shares in the last quarter. Institutional investors and hedge funds own 21.84% of the company’s stock.

Manhattan Bridge Capital Company Profile

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.