Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) Sees Large Decrease in Short Interest

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) was the recipient of a large decrease in short interest during the month of February. As of February 15th, there was short interest totalling 5,100 shares, a decrease of 50.0% from the January 31st total of 10,200 shares. Based on an average trading volume of 16,200 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Manhattan Bridge Capital in a report on Thursday. They issued a “strong-buy” rating on the stock.

Institutional Trading of Manhattan Bridge Capital

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Gen Wealth Partners Inc increased its position in shares of Manhattan Bridge Capital by 5.1% during the 4th quarter. Gen Wealth Partners Inc now owns 38,740 shares of the credit services provider’s stock worth $217,000 after purchasing an additional 1,896 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Manhattan Bridge Capital by 2.7% in the third quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock valued at $635,000 after buying an additional 3,008 shares in the last quarter. Atria Wealth Solutions Inc. increased its holdings in Manhattan Bridge Capital by 13.5% during the fourth quarter. Atria Wealth Solutions Inc. now owns 27,885 shares of the credit services provider’s stock worth $159,000 after buying an additional 3,324 shares during the last quarter. NewEdge Advisors LLC raised its position in Manhattan Bridge Capital by 28.4% during the fourth quarter. NewEdge Advisors LLC now owns 28,074 shares of the credit services provider’s stock worth $157,000 after acquiring an additional 6,215 shares in the last quarter. Finally, Melia Wealth LLC lifted its stake in Manhattan Bridge Capital by 3.0% in the fourth quarter. Melia Wealth LLC now owns 351,140 shares of the credit services provider’s stock valued at $1,966,000 after acquiring an additional 10,301 shares during the last quarter. Institutional investors own 21.84% of the company’s stock.

Manhattan Bridge Capital Price Performance

LOAN stock traded down $0.03 during midday trading on Friday, hitting $5.58. The company’s stock had a trading volume of 7,152 shares, compared to its average volume of 12,314. The company’s fifty day moving average price is $5.60 and its 200 day moving average price is $5.45. Manhattan Bridge Capital has a twelve month low of $4.60 and a twelve month high of $5.90. The stock has a market capitalization of $63.83 million, a P/E ratio of 11.39 and a beta of 0.55.

Manhattan Bridge Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 8th will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.24%. The ex-dividend date of this dividend is Tuesday, April 8th. Manhattan Bridge Capital’s dividend payout ratio is currently 93.88%.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. The company offers short-term, secured, and non-banking loans to real estate investors to fund acquisition, renovation, rehabilitation, or development of residential or commercial properties.