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

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) was the target of a significant drop in short interest in November. As of November 15th, there was short interest totalling 15,000 shares, a drop of 40.0% from the October 31st total of 25,000 shares. Based on an average trading volume of 17,400 shares, the short-interest ratio is currently 0.9 days. Approximately 0.2% of the shares of the stock are sold short.

Manhattan Bridge Capital Trading Up 1.5 %

Shares of NASDAQ LOAN traded up $0.08 during midday trading on Thursday, reaching $5.36. The company’s stock had a trading volume of 13,983 shares, compared to its average volume of 20,521. The company has a 50 day moving average price of $5.42 and a 200 day moving average price of $5.29. Manhattan Bridge Capital has a one year low of $4.50 and a one year high of $5.90. The company has a market cap of $61.32 million, a price-to-earnings ratio of 10.94 and a beta of 0.58.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 EPS for the quarter, hitting analysts’ consensus estimates of $0.12. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%. The business had revenue of $2.31 million for the quarter.

Manhattan Bridge Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 8.58%. The ex-dividend date is Tuesday, December 31st. Manhattan Bridge Capital’s payout ratio is presently 93.88%.

Institutional Trading of Manhattan Bridge Capital

Several large investors have recently added to or reduced their stakes in the business. Soltis Investment Advisors LLC bought a new stake in Manhattan Bridge Capital in the third quarter worth approximately $14,758,000. Geode Capital Management LLC boosted its holdings in shares of Manhattan Bridge Capital by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock worth $635,000 after buying an additional 3,008 shares during the period. Beese Fulmer Investment Management Inc. boosted its holdings in shares of Manhattan Bridge Capital by 53.4% during the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock worth $724,000 after buying an additional 45,222 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Manhattan Bridge Capital by 441.5% during the 3rd quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock worth $817,000 after buying an additional 119,595 shares during the period. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in shares of Manhattan Bridge Capital by 35.7% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock worth $120,000 after buying an additional 6,117 shares during the period. 21.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Manhattan Bridge Capital in a research report on Saturday, November 23rd. They set a “strong-buy” rating on the stock.

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.