Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) Short Interest Up 69.1% in March

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 9,300 shares, a growth of 69.1% from the February 28th total of 5,500 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily volume of 14,000 shares, the short-interest ratio is currently 0.7 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Manhattan Bridge Capital in a research note on Monday. They set a “strong-buy” rating for the company.

Institutional Investors Weigh In On Manhattan Bridge Capital

Several institutional investors and hedge funds have recently modified their holdings of LOAN. Advisory Services Network LLC bought a new stake in shares of Manhattan Bridge Capital in the 4th quarter valued at approximately $97,000. OLIO Financial Planning bought a new stake in shares of Manhattan Bridge Capital during the 4th quarter valued at about $117,000. NewEdge Advisors LLC raised its stake 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 during the period. Atria Wealth Solutions Inc. lifted its holdings in Manhattan Bridge Capital by 13.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 27,885 shares of the credit services provider’s stock worth $159,000 after acquiring an additional 3,324 shares during the last quarter. Finally, LPL Financial LLC bought a new position in shares of Manhattan Bridge Capital during the fourth quarter valued at approximately $169,000. Hedge funds and other institutional investors own 21.84% of the company’s stock.

Manhattan Bridge Capital Trading Up 0.2 %

Shares of LOAN traded up $0.01 during mid-day trading on Monday, hitting $5.83. 1,472 shares of the company’s stock were exchanged, compared to its average volume of 18,667. The business’s 50 day moving average is $5.64 and its two-hundred day moving average is $5.52. Manhattan Bridge Capital has a fifty-two week low of $4.89 and a fifty-two week high of $5.90. The firm has a market capitalization of $66.69 million, a P/E ratio of 11.90 and a beta of 0.48.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its quarterly earnings results on Wednesday, March 12th. The credit services provider reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The firm had revenue of $2.36 million during the quarter. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%.

Manhattan Bridge Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 8th will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 7.89%. The ex-dividend date is Tuesday, April 8th. Manhattan Bridge Capital’s dividend payout ratio is currently 95.83%.

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.