Short Interest in Manhattan Bridge Capital, Inc (NASDAQ:LOAN) Decreases By 41.1%

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) saw a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 22,237 shares, a drop of 41.1% from the July 30th total of 37,755 shares. Based on an average trading volume of 25,549 shares, the short-interest ratio is currently 0.9 days. Currently, 0.3% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Manhattan Bridge Capital from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Manhattan Bridge Capital presently has an average rating of “Hold”.

Insider Buying and Selling

In other Manhattan Bridge Capital news, CEO Assaf Ran purchased 8,000 shares of the stock in a transaction on Tuesday, July 28th. The shares were purchased at an average price of $3.99 per share, with a total value of $31,920.00. Following the completion of the transaction, the chief executive officer directly owned 1,235,000 shares in the company, valued at $4,927,650. This represents a 0.65% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 24.60% of the company’s stock.

Institutional Investors Weigh In On Manhattan Bridge Capital

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Melia Wealth LLC raised its stake in Manhattan Bridge Capital by 2.6% during the fourth 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 during the last quarter. Vanguard Group Inc. increased its position in shares of Manhattan Bridge Capital by 2.5% during the third quarter. Vanguard Group Inc. now owns 383,385 shares of the credit services provider’s stock worth $2,116,000 after acquiring an additional 9,330 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Manhattan Bridge Capital by 28.8% in 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 purchasing an additional 81,220 shares during the last quarter. Beese Fulmer Investment Management Inc. lifted its stake 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 valued at $1,597,000 after acquiring an additional 229,244 shares in the last quarter. Finally, Frazier Financial Advisors LLC purchased a new position in Manhattan Bridge Capital during the second quarter worth about $970,000. Institutional investors and hedge funds own 21.84% of the company’s stock.

Manhattan Bridge Capital Price Performance

NASDAQ:LOAN traded up $0.08 during trading hours on Tuesday, hitting $4.08. The company’s stock had a trading volume of 16,435 shares, compared to its average volume of 29,402. The stock has a fifty day simple moving average of $4.24 and a 200-day simple moving average of $4.32. Manhattan Bridge Capital has a twelve month low of $3.90 and a twelve month high of $5.80. The company has a market capitalization of $46.63 million, a P/E ratio of 9.71 and a beta of 0.16.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its quarterly earnings data on Thursday, July 23rd. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The company had revenue of $0.00 million for the quarter, compared to analyst estimates of $2.04 million. Manhattan Bridge Capital had a return on equity of 11.02% and a net margin of 58.30%.

Manhattan Bridge Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 8th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 10.8%. The ex-dividend date is Thursday, October 8th. Manhattan Bridge Capital’s payout ratio is 104.76%.

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.