Manhattan Bridge Capital Inc. (NASDAQ:LOAN) was the recipient of a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 13,000 shares, a decrease of 31.2% from the June 15th total of 18,900 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 40,200 shares, the days-to-cover ratio is presently 0.3 days.
Several equities analysts have recently weighed in on LOAN shares. Maxim Group reissued a “buy” rating and set a $6.00 price target on shares of Manhattan Bridge Capital in a report on Tuesday, April 21st. ValuEngine raised Manhattan Bridge Capital from a “sell” rating to a “hold” rating in a report on Thursday.
Manhattan Bridge Capital stock traded up $0.04 during trading on Friday, reaching $4.70. The company had a trading volume of 37,015 shares, compared to its average volume of 28,095. Manhattan Bridge Capital has a 52 week low of $2.54 and a 52 week high of $6.72. The firm’s 50-day simple moving average is $4.35 and its 200 day simple moving average is $5.02. The firm has a market capitalization of $45.26 million, a price-to-earnings ratio of 10.22 and a beta of 0.66.
Manhattan Bridge Capital (NASDAQ:LOAN) last announced its earnings results on Monday, April 13th. The credit services provider reported $0.11 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.11. Manhattan Bridge Capital had a return on equity of 13.40% and a net margin of 60.44%. The company had revenue of $1.71 million for the quarter.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Friday, July 10th will be issued a $0.10 dividend. The ex-dividend date is Thursday, July 9th. This represents a $0.40 dividend on an annualized basis and a yield of 8.51%. Manhattan Bridge Capital’s dividend payout ratio is currently 93.62%.
Institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new stake in Manhattan Bridge Capital in the 1st quarter worth $29,000. Advisor Group Holdings Inc. purchased a new stake in Manhattan Bridge Capital in the 1st quarter worth $47,000. Ladenburg Thalmann Financial Services Inc. increased its stake in Manhattan Bridge Capital by 50.8% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,443 shares of the credit services provider’s stock worth $73,000 after buying an additional 3,853 shares in the last quarter. Hardy Reed LLC purchased a new stake in Manhattan Bridge Capital in the 1st quarter worth $74,000. Finally, National Asset Management Inc. increased its stake in Manhattan Bridge Capital by 7.2% in the 1st quarter. National Asset Management Inc. now owns 56,799 shares of the credit services provider’s stock worth $233,000 after buying an additional 3,807 shares in the last quarter. 14.63% of the stock is currently owned by institutional investors.
Manhattan Bridge Capital Company Profile
Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. It offers short-term, secured, and non-banking loans to real estate investors to fund their acquisition, renovation, rehabilitation, or enhancement of properties in the New York metropolitan area.
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