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

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) was the recipient of a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 47,600 shares, a decline of 17.5% from the July 15th total of 57,700 shares. Based on an average daily volume of 24,900 shares, the short-interest ratio is currently 1.9 days. Currently, 0.6% of the company’s shares are sold short.

Hedge Funds Weigh In On Manhattan Bridge Capital

A number of institutional investors and hedge funds have recently modified their holdings of LOAN. International Assets Investment Management LLC increased its holdings in shares of Manhattan Bridge Capital by 447.4% during the fourth quarter. International Assets Investment Management LLC now owns 126,196 shares of the credit services provider’s stock valued at $627,000 after acquiring an additional 103,143 shares in the last quarter. Certuity LLC purchased a new stake in shares of Manhattan Bridge Capital in the 4th quarter valued at approximately $54,000. National Bank of Canada FI boosted its stake in shares of Manhattan Bridge Capital by 195.0% in the 4th quarter. National Bank of Canada FI now owns 5,900 shares of the credit services provider’s stock valued at $28,000 after buying an additional 3,900 shares during the period. Wealthcare Advisory Partners LLC acquired a new stake in shares of Manhattan Bridge Capital in the fourth quarter valued at approximately $270,000. Finally, Pinnacle Wealth Planning Services Inc. raised its stake in Manhattan Bridge Capital by 122.2% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 113,446 shares of the credit services provider’s stock valued at $564,000 after acquiring an additional 62,385 shares during the last quarter. Hedge funds and other institutional investors own 21.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Manhattan Bridge Capital in a research note on Friday, August 2nd. They set a “strong-buy” rating on the stock.

Manhattan Bridge Capital Price Performance

NASDAQ LOAN traded up $0.11 during trading hours on Friday, reaching $5.32. 11,606 shares of the stock traded hands, compared to its average volume of 21,888. The company has a market cap of $60.86 million, a price-to-earnings ratio of 10.64 and a beta of 0.59. Manhattan Bridge Capital has a 1 year low of $4.27 and a 1 year high of $5.59. The stock has a 50 day simple moving average of $5.23 and a two-hundred day simple moving average of $5.06.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its earnings results on Monday, July 22nd. The credit services provider reported $0.12 EPS for the quarter, hitting analysts’ consensus estimates of $0.12. The firm had revenue of $2.44 million for the quarter. Manhattan Bridge Capital had a return on equity of 13.20% and a net margin of 56.72%.

Manhattan Bridge Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 8th will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 8.65%. The ex-dividend date of this dividend is Tuesday, October 8th. Manhattan Bridge Capital’s dividend payout ratio is presently 92.00%.

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.