Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) Sees Significant Decrease in Short Interest

Manhattan Bridge Capital, Inc. (NASDAQ:LOANGet Rating) was the target of a large decline in short interest in April. As of April 30th, there was short interest totalling 14,700 shares, a decline of 32.6% from the April 15th total of 21,800 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average trading volume of 32,200 shares, the short-interest ratio is currently 0.5 days.

Separately, TheStreet upgraded shares of Manhattan Bridge Capital from a “c+” rating to a “b-” rating in a report on Wednesday, February 2nd.

Shares of LOAN stock traded up $0.02 on Friday, hitting $5.28. The company’s stock had a trading volume of 13,884 shares, compared to its average volume of 18,493. Manhattan Bridge Capital has a fifty-two week low of $5.25 and a fifty-two week high of $8.05. The firm’s fifty day moving average price is $5.90 and its 200-day moving average price is $5.84. The stock has a market capitalization of $60.67 million, a price-to-earnings ratio of 12.28 and a beta of 0.59.

Manhattan Bridge Capital (NASDAQ:LOANGet Rating) last released its quarterly earnings data on Friday, March 11th. The credit services provider reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). Manhattan Bridge Capital had a net margin of 65.94% and a return on equity of 11.50%.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Friday, July 8th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 9.47%. The ex-dividend date is Thursday, July 7th. Manhattan Bridge Capital’s payout ratio is presently 116.28%.

Several hedge funds have recently added to or reduced their stakes in LOAN. Royal Bank of Canada lifted its position in Manhattan Bridge Capital by 500.0% during the 3rd quarter. Royal Bank of Canada now owns 6,000 shares of the credit services provider’s stock worth $41,000 after acquiring an additional 5,000 shares during the last quarter. Citadel Advisors LLC acquired a new position in Manhattan Bridge Capital during the 3rd quarter worth $78,000. Susquehanna International Group LLP acquired a new position in Manhattan Bridge Capital during the 4th quarter worth $75,000. Advisor Group Holdings Inc. lifted its position in Manhattan Bridge Capital by 13.3% during the 3rd quarter. Advisor Group Holdings Inc. now owns 16,966 shares of the credit services provider’s stock worth $115,000 after acquiring an additional 1,997 shares during the last quarter. Finally, Geode Capital Management LLC acquired a new position in Manhattan Bridge Capital during the 3rd quarter worth $115,000. 26.27% of the stock is owned by institutional investors and hedge funds.

About Manhattan Bridge Capital (Get Rating)

Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. It offers short-term, secured, and non-banking loans to real estate investors to fund their acquisition, renovation, rehabilitation, or enhancement of properties in the New York metropolitan area, including New Jersey and Connecticut, and in Florida.

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