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

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) was the target of a large growth in short interest in June. As of June 30th, there was short interest totaling 23,604 shares, a growth of 331.7% from the June 15th total of 5,468 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 26,654 shares, the days-to-cover ratio is presently 0.9 days.

Manhattan Bridge Capital Price Performance

LOAN traded up $0.14 on Tuesday, hitting $4.37. The company had a trading volume of 5,667 shares, compared to its average volume of 28,402. Manhattan Bridge Capital has a 52-week low of $4.13 and a 52-week high of $5.80. The firm has a market capitalization of $49.95 million, a P/E ratio of 9.93 and a beta of 0.14. The stock has a fifty day simple moving average of $4.32 and a 200-day simple moving average of $4.43.

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

Hedge Funds Weigh In On Manhattan Bridge Capital

Hedge funds have recently bought and sold shares of the company. Beese Fulmer Investment Management Inc. increased its holdings in shares of Manhattan Bridge Capital by 200.9% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 343,376 shares of the credit services provider’s stock worth $1,597,000 after purchasing an additional 229,244 shares in the last quarter. Apella Capital LLC purchased a new stake in shares of Manhattan Bridge Capital during the fourth quarter valued at $192,000. International Assets Investment Management LLC raised its position in Manhattan Bridge Capital by 8.8% in the 4th quarter. International Assets Investment Management LLC now owns 29,595 shares of the credit services provider’s stock worth $138,000 after buying an additional 2,384 shares during the last quarter. Frazier Financial Advisors LLC lifted its stake in Manhattan Bridge Capital by 173.4% during the 4th quarter. Frazier Financial Advisors LLC now owns 79,637 shares of the credit services provider’s stock valued at $370,000 after acquiring an additional 50,511 shares during the period. Finally, Melia Wealth LLC raised its holdings in shares of Manhattan Bridge Capital by 2.6% during the fourth quarter. Melia Wealth LLC now owns 447,638 shares of the credit services provider’s stock valued at $2,082,000 after purchasing an additional 11,173 shares during the last quarter. Institutional investors own 21.84% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Manhattan Bridge Capital from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Manhattan Bridge Capital currently has an average rating of “Hold”.

Manhattan Bridge Capital Company Profile

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.