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

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

Manhattan Bridge Capital Trading Down 0.3 %

LOAN traded down $0.02 during trading on Friday, hitting $5.82. The stock had a trading volume of 11,816 shares, compared to its average volume of 18,736. The firm has a market cap of $66.57 million, a PE ratio of 11.88 and a beta of 0.48. Manhattan Bridge Capital has a 12 month low of $4.89 and a 12 month high of $5.90. The company has a 50 day simple moving average of $5.64 and a 200-day simple moving average of $5.52.

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

Manhattan Bridge Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 is Tuesday, April 8th. Manhattan Bridge Capital’s dividend payout ratio (DPR) is currently 95.83%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LOAN. Geode Capital Management LLC grew its stake in shares of Manhattan Bridge Capital by 2.7% in the third quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock worth $635,000 after acquiring an additional 3,008 shares during the last quarter. Soltis Investment Advisors LLC acquired a new stake in Manhattan Bridge Capital in the 3rd quarter worth $14,758,000. OLIO Financial Planning bought a new position in shares of Manhattan Bridge Capital during the 4th quarter worth about $117,000. Beese Fulmer Investment Management Inc. increased its holdings in shares of Manhattan Bridge Capital by 9.7% during the 4th quarter. Beese Fulmer Investment Management Inc. now owns 142,597 shares of the credit services provider’s stock worth $799,000 after purchasing an additional 12,616 shares during the period. Finally, Capital Management Associates Inc acquired a new position in shares of Manhattan Bridge Capital during the fourth quarter valued at about $184,000. 21.84% of the stock is currently owned by institutional investors and hedge funds.

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.