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

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) was the recipient of a large decrease in short interest in the month of April. As of April 30th, there was short interest totaling 9,130 shares, a decrease of 58.4% from the April 15th total of 21,927 shares. Based on an average daily volume of 19,824 shares, the short-interest ratio is currently 0.5 days. Approximately 0.1% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Manhattan Bridge Capital from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Hedge Funds Weigh In On Manhattan Bridge Capital

A number of hedge funds have recently made changes to their positions in LOAN. Beese Fulmer Investment Management Inc. raised its stake in shares of Manhattan Bridge Capital by 200.9% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 343,376 shares of the credit services provider’s stock valued at $1,597,000 after buying an additional 229,244 shares in the last quarter. Frazier Financial Advisors LLC raised its stake in shares of Manhattan Bridge Capital by 156.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 203,866 shares of the credit services provider’s stock valued at $907,000 after buying an additional 124,229 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Manhattan Bridge Capital by 28.8% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 363,572 shares of the credit services provider’s stock valued at $1,996,000 after buying an additional 81,220 shares in the last quarter. Melia Wealth LLC raised its stake in shares of Manhattan Bridge Capital by 15.3% in the 3rd quarter. Melia Wealth LLC now owns 436,465 shares of the credit services provider’s stock valued at $2,394,000 after buying an additional 57,932 shares in the last quarter. Finally, Apella Capital LLC acquired a new position in shares of Manhattan Bridge Capital in the 4th quarter valued at $192,000. Institutional investors and hedge funds own 21.84% of the company’s stock.

Manhattan Bridge Capital Stock Performance

Manhattan Bridge Capital stock remained flat at $4.22 during mid-day trading on Friday. 16,733 shares of the company’s stock were exchanged, compared to its average volume of 28,352. Manhattan Bridge Capital has a 12-month low of $4.13 and a 12-month high of $5.85. The stock has a market cap of $48.23 million, a price-to-earnings ratio of 9.59 and a beta of 0.18. The stock’s 50 day simple moving average is $4.40 and its 200 day simple moving average is $4.57.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its quarterly earnings data on Thursday, April 16th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). Manhattan Bridge Capital had a net margin of 59.24% and a return on equity of 11.59%. The business had revenue of $2.07 million during the quarter, compared to analyst estimates of $2.18 million.

Manhattan Bridge Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 8th will be paid a $0.11 dividend. The ex-dividend date is Wednesday, July 8th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 10.4%. Manhattan Bridge Capital’s dividend payout ratio is currently 100.00%.

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.