Manhattan Bridge Capital, Inc (NASDAQ:LOAN) Short Interest Up 51.3% in September

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 23,000 shares, an increase of 51.3% from the August 31st total of 15,200 shares. Based on an average trading volume of 22,500 shares, the short-interest ratio is presently 1.0 days. Approximately 0.3% of the company’s shares are sold short. Approximately 0.3% of the company’s shares are sold short. Based on an average trading volume of 22,500 shares, the short-interest ratio is presently 1.0 days.

Manhattan Bridge Capital Stock Performance

Shares of NASDAQ LOAN opened at $5.39 on Thursday. Manhattan Bridge Capital has a fifty-two week low of $4.74 and a fifty-two week high of $6.05. The stock has a market cap of $61.66 million, a price-to-earnings ratio of 11.47 and a beta of 0.37. The firm’s 50-day simple moving average is $5.43 and its 200 day simple moving average is $5.35.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its quarterly earnings results on Tuesday, July 22nd. The credit services provider reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. Manhattan Bridge Capital had a net margin of 59.04% and a return on equity of 12.68%. The business had revenue of $2.36 million for the quarter.

Manhattan Bridge Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 8th will be given a $0.115 dividend. The ex-dividend date of this dividend is Wednesday, October 8th. This represents a $0.46 annualized dividend and a yield of 8.5%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 97.87%.

Hedge Funds Weigh In On Manhattan Bridge Capital

Large investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. lifted 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. Frazier Financial Advisors LLC purchased a new stake in Manhattan Bridge Capital in the 2nd quarter valued at about $112,000. Kingsview Wealth Management LLC purchased a new stake in Manhattan Bridge Capital in the 1st quarter valued at about $121,000. International Assets Investment Management LLC purchased a new stake in Manhattan Bridge Capital in the 2nd quarter valued at about $149,000. Finally, Atria Wealth Solutions Inc. increased its stake in Manhattan Bridge Capital by 57.2% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 39,871 shares of the credit services provider’s stock valued at $218,000 after buying an additional 14,513 shares during the last quarter. Institutional investors own 21.84% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Manhattan Bridge Capital from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Manhattan Bridge Capital presently has a consensus rating of “Buy”.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. The company offers short-term, secured, and non-banking loans to real estate investors to fund acquisition, renovation, rehabilitation, or development of residential or commercial properties.