Manhattan Bridge Capital, Inc (NASDAQ:LOAN – Get Free Report) saw a significant growth in short interest in 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 stock are sold short. Based on an average daily trading volume, of 26,654 shares, the short-interest ratio is currently 0.9 days.
Hedge Funds Weigh In On Manhattan Bridge Capital
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Melia Wealth LLC raised its stake 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 period. Vanguard Group Inc. boosted its position in shares of Manhattan Bridge Capital by 2.5% in the third quarter. Vanguard Group Inc. now owns 383,385 shares of the credit services provider’s stock worth $2,116,000 after buying an additional 9,330 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings 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 valued at $1,996,000 after buying an additional 81,220 shares in the last quarter. Beese Fulmer Investment Management Inc. grew its holdings in shares of Manhattan Bridge Capital by 200.9% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 343,376 shares of the credit services provider’s stock valued at $1,597,000 after buying 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 valued at $907,000 after buying an additional 124,229 shares in the last quarter. 21.84% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, Weiss Ratings raised Manhattan Bridge Capital from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.
Manhattan Bridge Capital Price Performance
NASDAQ LOAN traded down $0.01 on Monday, hitting $4.23. 15,003 shares of the company were exchanged, compared to its average volume of 38,470. Manhattan Bridge Capital has a twelve month low of $4.13 and a twelve month high of $5.80. The firm has a market capitalization of $48.35 million, a P/E ratio of 9.61 and a beta of 0.14. The company’s 50 day moving average price is $4.32 and its 200-day moving average price is $4.43.
Manhattan Bridge Capital (NASDAQ:LOAN – Get Free Report) last announced its earnings results 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). The firm had revenue of $2.07 million during the quarter, compared to analyst estimates of $2.18 million. Manhattan Bridge Capital had a return on equity of 11.59% and a net margin of 59.24%.
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.
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