Manhattan Bridge Capital, Inc (NASDAQ:LOAN) Short Interest Update

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) was the recipient of a significant decrease in short interest in September. As of September 15th, there was short interest totaling 10,871 shares, a decrease of 42.4% from the August 31st total of 18,868 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average trading volume of 22,186 shares, the days-to-cover ratio is presently 0.5 days.

Insider Buying and Selling

In other Manhattan Bridge Capital news, CEO Assaf Ran bought 8,000 shares of Manhattan Bridge Capital stock in a transaction on Tuesday, July 28th. The stock was bought at an average price of $3.99 per share, with a total value of $31,920.00. Following the completion of the acquisition, the chief executive officer owned 1,235,000 shares in the company, valued at $4,927,650. The trade was a 0.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 24.60% of the company’s stock.

Institutional Trading of Manhattan Bridge Capital

Institutional investors and hedge funds have recently modified their holdings of the business. RW Investment Management LLC purchased a new stake in Manhattan Bridge Capital in the 2nd quarter worth approximately $59,000. Renaissance Technologies LLC lifted its stake in shares of Manhattan Bridge Capital by 7.9% during the 1st quarter. Renaissance Technologies LLC now owns 196,018 shares of the credit services provider’s stock worth $872,000 after purchasing an additional 14,290 shares during the period. Eclectic Associates Inc. ADV acquired a new stake in shares of Manhattan Bridge Capital during the second quarter worth $190,000. BlackRock Inc. acquired a new stake in shares of Manhattan Bridge Capital during the second quarter worth $198,000. Finally, Frazier Financial Advisors LLC grew its position in shares of Manhattan Bridge Capital by 156.0% in the first quarter. Frazier Financial Advisors LLC now owns 203,866 shares of the credit services provider’s stock valued at $907,000 after purchasing an additional 124,229 shares during the period. Hedge funds and other institutional investors own 21.84% of the company’s stock.

Manhattan Bridge Capital Stock Up 1.4%

Shares of LOAN traded up $0.05 on Thursday, reaching $3.75. The stock had a trading volume of 55,238 shares, compared to its average volume of 29,606. The firm has a market capitalization of $42.86 million, a PE ratio of 8.93 and a beta of 0.15. The firm has a 50-day moving average of $4.04 and a 200 day moving average of $4.25. Manhattan Bridge Capital has a twelve month low of $3.54 and a twelve month high of $5.80.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its quarterly earnings data on Thursday, July 23rd. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). The firm had revenue of $0.00 million for the quarter, compared to analyst estimates of $2.04 million. Manhattan Bridge Capital had a return on equity of 11.02% and a net margin of 58.30%.

Manhattan Bridge Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 8th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 11.7%. The ex-dividend date is Thursday, October 8th. Manhattan Bridge Capital’s dividend payout ratio (DPR) is 104.76%.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Manhattan Bridge Capital from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold”.

About Manhattan Bridge Capital

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) is a real estate finance company that originates, services and manages short-term, secured loans. Its lending activities primarily involve first mortgage loans backed by residential, multifamily and commercial properties.

The company generally provides financing to real estate investors and developers, including borrowers who may not be served by traditional banks. Its loans are secured by the underlying property and are intended to support acquisitions, renovations, construction and other real estate-related activities.

Manhattan Bridge Capital has historically focused on properties in the New York metropolitan area, including New York City and surrounding markets.