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

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) was the target of a large growth in short interest in March. As of March 31st, there was short interest totaling 18,681 shares, a growth of 25.5% from the March 15th total of 14,881 shares. Based on an average daily volume of 20,210 shares, the days-to-cover ratio is currently 0.9 days. Currently, 0.2% of the company’s shares are sold short.

Manhattan Bridge Capital Price Performance

LOAN stock traded down $0.05 during trading on Thursday, hitting $4.57. 19,923 shares of the stock traded hands, compared to its average volume of 27,703. Manhattan Bridge Capital has a 1 year low of $4.13 and a 1 year high of $5.85. The firm’s 50 day moving average is $4.43 and its two-hundred day moving average is $4.71. The stock has a market cap of $52.24 million, a price-to-earnings ratio of 10.16 and a beta of 0.21.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its quarterly earnings data on Thursday, April 16th. The credit services provider reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). Manhattan Bridge Capital had a net margin of 58.97% and a return on equity of 11.81%.

Manhattan Bridge Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors 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 yield of 9.6%. The ex-dividend date of this dividend is Wednesday, July 8th. Manhattan Bridge Capital’s dividend payout ratio is 97.78%.

Institutional Trading of Manhattan Bridge Capital

Several institutional investors have recently bought and sold shares of the company. Melia Wealth LLC grew its position 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 valued at $2,082,000 after purchasing an additional 11,173 shares during the last quarter. Vanguard Group Inc. grew its position in Manhattan Bridge Capital by 2.5% during 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 last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Manhattan Bridge Capital by 28.8% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 363,572 shares of the credit services provider’s stock valued at $1,996,000 after acquiring an additional 81,220 shares during the last quarter. Beese Fulmer Investment Management Inc. boosted its holdings in shares of 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 during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Manhattan Bridge Capital by 4.5% during the 4th quarter. Renaissance Technologies LLC now owns 181,728 shares of the credit services provider’s stock valued at $845,000 after acquiring an additional 7,900 shares during the last quarter. 21.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Manhattan Bridge Capital in a research report on Friday, April 10th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Manhattan Bridge Capital currently has an average rating of “Hold”.

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.