Short Interest in Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) Expands By 69.1%

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) was the target of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 9,300 shares, a growth of 69.1% from the February 28th total of 5,500 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 14,000 shares, the days-to-cover ratio is currently 0.7 days.

Manhattan Bridge Capital Price Performance

NASDAQ:LOAN traded down $0.02 during midday trading on Friday, reaching $5.82. 11,816 shares of the company traded hands, compared to its average volume of 18,736. The firm has a market capitalization of $66.57 million, a price-to-earnings ratio of 11.88 and a beta of 0.48. The company has a fifty day moving average price of $5.64 and a 200 day moving average price of $5.52. Manhattan Bridge Capital has a twelve month low of $4.89 and a twelve month high of $5.90.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its quarterly earnings data on Wednesday, March 12th. The credit services provider reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The firm had revenue of $2.36 million during the quarter. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%.

Manhattan Bridge Capital Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 7.90%. The ex-dividend date of this dividend is Tuesday, April 8th. Manhattan Bridge Capital’s dividend payout ratio (DPR) is 95.83%.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Manhattan Bridge Capital in a report on Sunday, March 23rd. They set a “strong-buy” rating on the stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC acquired a new stake in shares of Manhattan Bridge Capital in the 4th quarter worth approximately $97,000. OLIO Financial Planning acquired a new stake in shares of Manhattan Bridge Capital in the fourth quarter valued at $117,000. NewEdge Advisors LLC boosted its stake in Manhattan Bridge Capital by 28.4% during the fourth quarter. NewEdge Advisors LLC now owns 28,074 shares of the credit services provider’s stock valued at $157,000 after buying an additional 6,215 shares in the last quarter. Atria Wealth Solutions Inc. grew its holdings in Manhattan Bridge Capital by 13.5% during the fourth quarter. Atria Wealth Solutions Inc. now owns 27,885 shares of the credit services provider’s stock worth $159,000 after acquiring an additional 3,324 shares during the period. Finally, LPL Financial LLC acquired a new stake in Manhattan Bridge Capital in the 4th quarter valued at about $169,000. Institutional investors and hedge funds own 21.84% of the company’s stock.

Manhattan Bridge Capital Company Profile

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.