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

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) was the recipient of a large decline in short interest in the month of February. As of February 15th, there was short interest totalling 5,100 shares, a decline of 50.0% from the January 31st total of 10,200 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average trading volume of 16,200 shares, the short-interest ratio is presently 0.3 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of LOAN. Soltis Investment Advisors LLC bought a new position in Manhattan Bridge Capital in the 3rd quarter worth $14,758,000. Cary Street Partners Financial LLC purchased a new position in shares of Manhattan Bridge Capital during the fourth quarter valued at about $1,684,000. Fortress Financial Solutions LLC purchased a new position in shares of Manhattan Bridge Capital during the fourth quarter valued at about $685,000. International Assets Investment Management LLC grew its position in shares of Manhattan Bridge Capital by 441.5% during the third quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock valued at $817,000 after purchasing an additional 119,595 shares in the last quarter. Finally, Capital Management Associates Inc purchased a new position in shares of Manhattan Bridge Capital during the fourth quarter valued at about $184,000. Institutional investors own 21.84% of the company’s stock.

Manhattan Bridge Capital Stock Performance

Shares of LOAN stock traded down $0.01 during mid-day trading on Monday, reaching $5.57. 10,245 shares of the company’s stock traded hands, compared to its average volume of 12,261. Manhattan Bridge Capital has a 12 month low of $4.60 and a 12 month high of $5.90. The firm has a 50 day moving average price of $5.60 and a two-hundred day moving average price of $5.46. The firm has a market capitalization of $63.72 million, a PE ratio of 11.37 and a beta of 0.55.

Manhattan Bridge Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 8th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 8.26%. The ex-dividend date of this dividend is Tuesday, April 8th. Manhattan Bridge Capital’s dividend payout ratio is currently 93.88%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Manhattan Bridge Capital in a research report on Thursday. They set a “strong-buy” rating for the company.

About Manhattan Bridge Capital

Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. The company offers short-term, secured, and non-banking loans to real estate investors to fund acquisition, renovation, rehabilitation, or development of residential or commercial properties.