Manhattan Bridge Capital, Inc (NASDAQ:LOAN) Short Interest Up 19.3% in February

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) was the target of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 5,866 shares, a growth of 19.3% from the February 12th total of 4,916 shares. Based on an average daily volume of 18,706 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the shares of the stock are sold short. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 18,706 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Investors Weigh In On Manhattan Bridge Capital

Several hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. grew its stake in shares of 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 purchasing an additional 3,292 shares during the period. RW Investment Management LLC acquired a new position in shares of Manhattan Bridge Capital in the 3rd quarter valued at $71,000. Bridgeway Capital Management LLC boosted its holdings in Manhattan Bridge Capital by 28.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 19,516 shares of the credit services provider’s stock worth $91,000 after buying an additional 4,300 shares in the last quarter. Briaud Financial Planning Inc purchased a new stake in Manhattan Bridge Capital during the third quarter worth $136,000. Finally, Rothschild Wealth LLC acquired a new stake in Manhattan Bridge Capital during the fourth quarter valued at $118,000. Hedge funds and other institutional investors own 21.84% of the company’s stock.

Manhattan Bridge Capital Price Performance

NASDAQ:LOAN traded down $0.01 during mid-day trading on Tuesday, hitting $4.32. The company’s stock had a trading volume of 29,934 shares, compared to its average volume of 20,640. The business’s fifty day moving average is $4.47 and its two-hundred day moving average is $4.84. The stock has a market cap of $49.42 million, a price-to-earnings ratio of 9.39 and a beta of 0.25. Manhattan Bridge Capital has a 1 year low of $4.24 and a 1 year high of $6.05.

Manhattan Bridge Capital Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 8th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 10.2%. The ex-dividend date is Wednesday, April 8th. Manhattan Bridge Capital’s dividend payout ratio (DPR) is currently 100.00%.

Analyst Upgrades and Downgrades

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

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.