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

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) saw a significant drop in short interest in December. As of December 31st, there was short interest totaling 5,740 shares, a drop of 44.0% from the December 15th total of 10,248 shares. Based on an average daily volume of 45,619 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.1% of the company’s stock are short sold. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 45,619 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On Manhattan Bridge Capital

Several large investors have recently modified their holdings of LOAN. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Manhattan Bridge Capital by 28.8% during the third quarter. Mercer Global Advisors Inc. ADV now owns 363,572 shares of the credit services provider’s stock worth $1,996,000 after purchasing an additional 81,220 shares during the period. Melia Wealth LLC lifted its stake in shares of Manhattan Bridge Capital by 15.3% in the 3rd quarter. Melia Wealth LLC now owns 436,465 shares of the credit services provider’s stock worth $2,394,000 after acquiring an additional 57,932 shares during the period. Certuity LLC purchased a new stake in shares of Manhattan Bridge Capital in the second quarter valued at about $306,000. OLIO Financial Planning increased its stake in shares of Manhattan Bridge Capital by 196.3% during the second quarter. OLIO Financial Planning now owns 72,798 shares of the credit services provider’s stock worth $398,000 after acquiring an additional 48,230 shares during the period. Finally, Fortress Financial Solutions LLC raised its holdings in Manhattan Bridge Capital by 26.7% during the third quarter. Fortress Financial Solutions LLC now owns 152,430 shares of the credit services provider’s stock worth $837,000 after purchasing an additional 32,148 shares in the last quarter. Hedge funds and other institutional investors own 21.84% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Manhattan Bridge Capital Stock Up 1.1%

LOAN traded up $0.05 during trading on Thursday, hitting $4.66. 54,237 shares of the stock were exchanged, compared to its average volume of 37,374. The firm has a market capitalization of $53.31 million, a P/E ratio of 10.13 and a beta of 0.25. Manhattan Bridge Capital has a 1-year low of $4.29 and a 1-year high of $6.05. The stock has a fifty day moving average price of $4.72 and a two-hundred day moving average price of $5.15.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its quarterly earnings data on Friday, October 24th. The credit services provider reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.01). Manhattan Bridge Capital had a net margin of 58.67% and a return on equity of 12.22%. The firm had revenue of $2.04 million during the quarter.

Manhattan Bridge Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 9.9%. The ex-dividend date of this dividend is Wednesday, December 31st. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 100.00%.

About Manhattan Bridge Capital

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.