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

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) was the recipient of a significant drop in short interest during the month of February. As of February 13th, there was short interest totaling 4,916 shares, a drop of 40.2% from the January 29th total of 8,225 shares. Based on an average daily volume of 21,338 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the shares of the stock are sold short. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 21,338 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On Manhattan Bridge Capital

A number of institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. grew its position in Manhattan Bridge Capital by 140.7% in the 2nd quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider’s stock valued at $31,000 after acquiring an additional 3,292 shares in the last quarter. Melia Wealth LLC increased its stake in Manhattan Bridge Capital by 2.6% during the 4th quarter. Melia Wealth LLC now owns 447,638 shares of the credit services provider’s stock worth $2,082,000 after buying an additional 11,173 shares during the period. Frazier Financial Advisors LLC lifted its holdings in Manhattan Bridge Capital by 173.4% during the 4th quarter. Frazier Financial Advisors LLC now owns 79,637 shares of the credit services provider’s stock worth $370,000 after buying an additional 50,511 shares in the last quarter. Beese Fulmer Investment Management Inc. grew its stake in shares of Manhattan Bridge Capital by 200.9% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 343,376 shares of the credit services provider’s stock worth $1,597,000 after acquiring an additional 229,244 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position 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 acquiring an additional 2,384 shares during the period. 21.84% of the stock is owned by institutional investors and hedge funds.

Manhattan Bridge Capital Stock Performance

Manhattan Bridge Capital stock opened at $4.38 on Friday. The company’s 50 day simple moving average is $4.57 and its 200-day simple moving average is $4.93. Manhattan Bridge Capital has a 1 year low of $4.29 and a 1 year high of $6.05. The company has a market capitalization of $50.11 million, a price-to-earnings ratio of 9.52 and a beta of 0.25.

Manhattan Bridge Capital Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 8th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 10.0%. The ex-dividend date is Wednesday, April 8th. Manhattan Bridge Capital’s dividend payout ratio is 100.00%.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Manhattan Bridge Capital in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Manhattan Bridge Capital has an average rating of “Hold”.

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.