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

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) was the target of a large decrease in short interest in August. As of August 14th, there was short interest totaling 22,237 shares, a decrease of 41.1% from the July 30th total of 37,755 shares. Based on an average daily trading volume, of 25,549 shares, the short-interest ratio is currently 0.9 days. Approximately 0.3% of the company’s stock are sold short.

Manhattan Bridge Capital Price Performance

Shares of LOAN traded down $0.04 during mid-day trading on Monday, reaching $4.03. 9,385 shares of the company’s stock were exchanged, compared to its average volume of 29,446. The stock has a market capitalization of $46.06 million, a PE ratio of 9.60 and a beta of 0.16. The business’s fifty day simple moving average is $4.25 and its 200-day simple moving average is $4.33. Manhattan Bridge Capital has a 52-week low of $3.90 and a 52-week high of $5.80.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its quarterly earnings results on Thursday, July 23rd. The credit services provider reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.01). The business had revenue of $0.00 million during the quarter, compared to analysts’ expectations of $2.04 million. Manhattan Bridge Capital had a net margin of 58.30% and a return on equity of 11.02%.

Manhattan Bridge Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 8th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 10.9%. The ex-dividend date of this dividend is Thursday, October 8th. Manhattan Bridge Capital’s dividend payout ratio is presently 104.76%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Manhattan Bridge Capital from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

Insider Activity

In related news, CEO Assaf Ran bought 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were purchased at an average cost of $3.99 per share, with a total value of $31,920.00. Following the transaction, the chief executive officer directly owned 1,235,000 shares of the company’s stock, valued at approximately $4,927,650. This represents a 0.65% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 24.60% of the company’s stock.

Hedge Funds Weigh In On Manhattan Bridge Capital

Institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. lifted its position 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 period. Vanguard Group Inc. increased its holdings in shares of Manhattan Bridge Capital by 2.5% in the third quarter. Vanguard Group Inc. now owns 383,385 shares of the credit services provider’s stock valued at $2,116,000 after purchasing an additional 9,330 shares during the period. Citadel Advisors LLC purchased a new stake in shares of Manhattan Bridge Capital during the third quarter worth approximately $149,000. Mercer Global Advisors Inc. ADV raised its stake 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 last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Manhattan Bridge Capital by 8.8% during the fourth quarter. International Assets Investment Management LLC now owns 29,595 shares of the credit services provider’s stock worth $138,000 after purchasing an additional 2,384 shares during the period. Institutional investors and hedge funds 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.