Manhattan Bridge Capital, Inc (NASDAQ:LOAN) Short Interest Up 153.7% in March

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) saw a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 14,881 shares, a growth of 153.7% from the February 26th total of 5,866 shares. Based on an average daily trading volume, of 22,855 shares, the short-interest ratio is presently 0.7 days. Currently, 0.2% of the company’s shares are short sold. Currently, 0.2% of the company’s shares are short sold. Based on an average daily trading volume, of 22,855 shares, the short-interest ratio is presently 0.7 days.

Hedge Funds Weigh In On Manhattan Bridge Capital

Institutional investors have recently made changes to their positions in the company. Melia Wealth LLC raised its holdings in shares of Manhattan Bridge Capital by 2.6% in the fourth quarter. Melia Wealth LLC now owns 447,638 shares of the credit services provider’s stock valued at $2,082,000 after acquiring an additional 11,173 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Manhattan Bridge Capital by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 383,385 shares of the credit services provider’s stock worth $2,116,000 after purchasing an additional 9,330 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in shares of Manhattan Bridge Capital by 28.8% during the third quarter. Mercer Global Advisors Inc. ADV now owns 363,572 shares of the credit services provider’s stock valued at $1,996,000 after purchasing an additional 81,220 shares in the last quarter. Beese Fulmer Investment Management Inc. boosted its stake in shares of Manhattan Bridge Capital by 200.9% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 343,376 shares of the credit services provider’s stock valued at $1,597,000 after purchasing an additional 229,244 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Manhattan Bridge Capital by 4.5% during the fourth quarter. Renaissance Technologies LLC now owns 181,728 shares of the credit services provider’s stock valued at $845,000 after buying an additional 7,900 shares during the period. Hedge funds and other institutional investors own 21.84% of the company’s stock.

Manhattan Bridge Capital Price Performance

LOAN stock traded up $0.05 during mid-day trading on Wednesday, reaching $4.35. The company had a trading volume of 5,965 shares, compared to its average volume of 24,634. The company has a market capitalization of $49.76 million, a PE ratio of 9.46 and a beta of 0.25. The firm has a 50 day moving average of $4.44 and a 200 day moving average of $4.80. Manhattan Bridge Capital has a 12 month low of $4.13 and a 12 month high of $6.05.

Manhattan Bridge Capital Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 8th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 10.1%. The ex-dividend date is Wednesday, April 8th. Manhattan Bridge Capital’s dividend payout ratio is currently 100.00%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Manhattan Bridge Capital in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Manhattan Bridge Capital has a consensus rating of “Hold”.

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.