Manhattan Bridge Capital, Inc (NASDAQ:LOAN) Short Interest Update

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) saw a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 5,740 shares, a drop of 44.0% from the December 15th total of 10,248 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average trading volume of 45,619 shares, the days-to-cover ratio is presently 0.1 days. Based on an average trading volume of 45,619 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the company’s shares are sold short.

Manhattan Bridge Capital Stock Performance

Shares of Manhattan Bridge Capital stock traded up $0.05 during trading hours on Thursday, reaching $4.66. 54,237 shares of the company were exchanged, compared to its average volume of 37,374. The firm has a market cap of $53.31 million, a PE ratio of 10.13 and a beta of 0.25. The stock’s fifty day moving average is $4.72 and its 200 day moving average is $5.15. Manhattan Bridge Capital has a 1 year low of $4.29 and a 1 year high of $6.05.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its earnings results on Friday, October 24th. The credit services provider reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). Manhattan Bridge Capital had a return on equity of 12.22% and a net margin of 58.67%.The firm had revenue of $2.04 million for the quarter.

Manhattan Bridge Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 9.9%. The ex-dividend date is Wednesday, December 31st. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 100.00%.

Hedge Funds Weigh In On Manhattan Bridge Capital

Large investors have recently bought and sold shares of the business. Osaic Holdings Inc. lifted its holdings in Manhattan Bridge Capital by 140.7% during the 2nd quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider’s stock worth $31,000 after buying an additional 3,292 shares during the last quarter. RW Investment Management LLC purchased a new position in shares of Manhattan Bridge Capital in the 3rd quarter valued at about $71,000. Frazier Financial Advisors LLC acquired a new stake in shares of Manhattan Bridge Capital during the 2nd quarter worth about $112,000. Briaud Financial Planning Inc acquired a new stake in shares of Manhattan Bridge Capital during the 3rd quarter worth about $136,000. Finally, International Assets Investment Management LLC purchased a new stake in Manhattan Bridge Capital during the second quarter worth approximately $149,000. Hedge funds and other institutional investors own 21.84% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Manhattan Bridge Capital in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently 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.