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

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) was the target of a large drop in short interest in April. As of April 30th, there was short interest totaling 9,130 shares, a drop of 58.4% from the April 15th total of 21,927 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 19,824 shares, the days-to-cover ratio is currently 0.5 days.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Manhattan Bridge Capital from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Manhattan Bridge Capital Stock Performance

Shares of Manhattan Bridge Capital stock remained flat at $4.22 during mid-day trading on Friday. 16,733 shares of the company were exchanged, compared to its average volume of 28,352. The company has a market capitalization of $48.23 million, a P/E ratio of 9.59 and a beta of 0.18. The company has a fifty day simple moving average of $4.40 and a 200-day simple moving average of $4.57. Manhattan Bridge Capital has a 1-year low of $4.13 and a 1-year high of $5.85.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its earnings results on Thursday, April 16th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The firm had revenue of $2.07 million for the quarter, compared to analyst estimates of $2.18 million. Manhattan Bridge Capital had a return on equity of 11.59% and a net margin of 59.24%.

Manhattan Bridge Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 8th will be given a dividend of $0.11 per share. The ex-dividend date is Wednesday, July 8th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 10.4%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is 100.00%.

Institutional Investors Weigh In On Manhattan Bridge Capital

A number of hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its holdings in Manhattan Bridge Capital by 8.8% during the 4th quarter. International Assets Investment Management LLC now owns 29,595 shares of the credit services provider’s stock worth $138,000 after acquiring an additional 2,384 shares during the last quarter. Geode Capital Management LLC grew its holdings in Manhattan Bridge Capital by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 112,087 shares of the credit services provider’s stock worth $521,000 after acquiring an additional 3,046 shares during the last quarter. Osaic Holdings Inc. grew its holdings in Manhattan Bridge Capital by 140.7% during the 2nd quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider’s stock worth $31,000 after acquiring an additional 3,292 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings in Manhattan Bridge Capital by 28.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 19,516 shares of the credit services provider’s stock worth $91,000 after acquiring an additional 4,300 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Manhattan Bridge Capital by 4.5% during the 4th quarter. Renaissance Technologies LLC now owns 181,728 shares of the credit services provider’s stock worth $845,000 after acquiring an additional 7,900 shares during the last quarter. Institutional investors own 21.84% of the company’s stock.

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.