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

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) saw a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 14,881 shares, a growth of 153.7% from the February 26th total of 5,866 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average daily trading volume, of 22,855 shares, the days-to-cover ratio is presently 0.7 days.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC raised its position in Manhattan Bridge Capital by 8.8% in the 4th quarter. International Assets Investment Management LLC now owns 29,595 shares of the credit services provider’s stock valued at $138,000 after buying an additional 2,384 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Manhattan Bridge Capital by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 112,087 shares of the credit services provider’s stock worth $521,000 after acquiring an additional 3,046 shares in the last quarter. Osaic Holdings Inc. raised its holdings in shares of Manhattan Bridge Capital by 140.7% in the second quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider’s stock valued at $31,000 after purchasing an additional 3,292 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Manhattan Bridge Capital by 28.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 19,516 shares of the credit services provider’s stock worth $91,000 after purchasing an additional 4,300 shares in the last quarter. Finally, Fortress Financial Solutions LLC boosted its holdings in Manhattan Bridge Capital by 3.9% during the second quarter. Fortress Financial Solutions LLC now owns 120,282 shares of the credit services provider’s stock worth $658,000 after purchasing an additional 4,522 shares during the last quarter. 21.84% of the stock is owned by institutional investors and hedge funds.

Manhattan Bridge Capital Stock Up 2.3%

Shares of LOAN traded up $0.10 on Friday, hitting $4.45. The company’s stock had a trading volume of 14,213 shares, compared to its average volume of 24,448. The firm’s fifty day moving average price is $4.43 and its 200-day moving average price is $4.79. Manhattan Bridge Capital has a fifty-two week low of $4.13 and a fifty-two week high of $6.05. The firm has a market capitalization of $50.91 million, a price-to-earnings ratio of 9.67 and a beta of 0.25.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its earnings results on Friday, March 27th. The credit services provider reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. The firm had revenue of $0.00 million for the quarter, compared to the consensus estimate of $2.11 million. Manhattan Bridge Capital had a net margin of 58.67% and a return on equity of 12.22%.

Manhattan Bridge Capital Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 8th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, April 8th. This represents a $0.44 annualized dividend and a dividend yield of 9.9%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is currently 100.00%.

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.