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

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LOAN. Advisory Services Network LLC bought a new position in shares of Manhattan Bridge Capital during the fourth quarter worth $97,000. OLIO Financial Planning bought a new position in Manhattan Bridge Capital during the fourth quarter worth about $117,000. Atria Wealth Solutions Inc. grew its stake 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 valued at $159,000 after acquiring an additional 3,324 shares during the period. NewEdge Advisors LLC grew its stake in Manhattan Bridge Capital by 28.4% in the fourth quarter. NewEdge Advisors LLC now owns 28,074 shares of the credit services provider’s stock valued at $157,000 after acquiring an additional 6,215 shares during the period. Finally, LPL Financial LLC bought a new stake in shares of Manhattan Bridge Capital in the fourth quarter worth about $169,000. Institutional investors and hedge funds own 21.84% of the company’s stock.

Manhattan Bridge Capital Stock Performance

NASDAQ:LOAN traded down $0.03 during mid-day trading on Friday, hitting $5.58. The company had a trading volume of 7,152 shares, compared to its average volume of 12,314. Manhattan Bridge Capital has a fifty-two week low of $4.60 and a fifty-two week high of $5.90. The firm has a market cap of $63.83 million, a P/E ratio of 11.39 and a beta of 0.55. The business’s fifty day moving average is $5.60 and its two-hundred day moving average is $5.45.

Manhattan Bridge Capital Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.24%. Manhattan Bridge Capital’s dividend payout ratio is 93.88%.

Wall Street Analyst Weigh In

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

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.