Manhattan Bridge Capital, Inc (NASDAQ:LOAN) Sees Significant Growth in Short Interest

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 18,681 shares, an increase of 25.5% from the March 15th total of 14,881 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average trading volume of 20,210 shares, the days-to-cover ratio is presently 0.9 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Manhattan Bridge Capital in a report on Friday, April 10th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

Institutional Investors Weigh In On Manhattan Bridge Capital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bridgeway Capital Management LLC raised its stake 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 period. Rothschild Wealth LLC bought a new stake in Manhattan Bridge Capital during the 4th quarter worth approximately $118,000. Kestra Advisory Services LLC raised its stake in Manhattan Bridge Capital by 94.2% during the 4th quarter. Kestra Advisory Services LLC now owns 25,877 shares of the credit services provider’s stock worth $120,000 after acquiring an additional 12,553 shares during the period. Gen Wealth Partners Inc bought a new stake in Manhattan Bridge Capital during the 4th quarter worth approximately $161,000. Finally, Renaissance Technologies LLC raised its stake 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 period. Institutional investors own 21.84% of the company’s stock.

Manhattan Bridge Capital Price Performance

Shares of NASDAQ:LOAN traded down $0.05 during trading on Thursday, hitting $4.57. The company’s stock had a trading volume of 19,923 shares, compared to its average volume of 27,703. The company has a 50-day moving average of $4.43 and a 200-day moving average of $4.71. Manhattan Bridge Capital has a 12 month low of $4.13 and a 12 month high of $5.85. The firm has a market cap of $52.24 million, a price-to-earnings ratio of 10.16 and a beta of 0.21.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its 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 11.81% and a net margin of 58.97%.

Manhattan Bridge Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 8th will be paid 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 yield of 9.6%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 97.78%.

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.