Manhattan Bridge Capital, Inc (NASDAQ:LOAN) Short Interest Up 19.3% in February

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) was the target of a large growth in short interest in February. As of February 27th, there was short interest totaling 5,866 shares, a growth of 19.3% from the February 12th total of 4,916 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 18,706 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily trading volume, of 18,706 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the shares of the stock are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings reissued 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 MarketBeat, Manhattan Bridge Capital currently has a consensus rating of “Hold”.

Manhattan Bridge Capital Stock Performance

NASDAQ:LOAN traded down $0.01 during mid-day trading on Tuesday, reaching $4.32. The stock had a trading volume of 29,934 shares, compared to its average volume of 20,640. The stock has a market capitalization of $49.42 million, a P/E ratio of 9.39 and a beta of 0.25. The firm has a 50 day moving average price of $4.47 and a two-hundred day moving average price of $4.84. Manhattan Bridge Capital has a one year low of $4.24 and a one year high of $6.05.

Manhattan Bridge Capital Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 8th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 10.2%. The ex-dividend date is Wednesday, April 8th. Manhattan Bridge Capital’s payout ratio is presently 100.00%.

Hedge Funds Weigh In On Manhattan Bridge Capital

Several institutional investors and hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. raised 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 worth $31,000 after purchasing an additional 3,292 shares during the period. RW Investment Management LLC bought a new position in shares of Manhattan Bridge Capital during the third quarter valued at about $71,000. Bridgeway Capital Management LLC increased its holdings in shares of Manhattan Bridge Capital by 28.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 19,516 shares of the credit services provider’s stock worth $91,000 after buying an additional 4,300 shares during the period. Briaud Financial Planning Inc purchased a new position in shares of Manhattan Bridge Capital in the third quarter worth about $136,000. Finally, Rothschild Wealth LLC bought a new stake in shares of Manhattan Bridge Capital in the 4th quarter valued at about $118,000. Institutional investors own 21.84% of the company’s stock.

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.