Short Interest in Manhattan Bridge Capital, Inc (NASDAQ:LOAN) Rises By 331.7%

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) saw a significant increase in short interest in June. As of June 30th, there was short interest totaling 23,604 shares, an increase of 331.7% from the June 15th total of 5,468 shares. Based on an average daily volume of 26,654 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.3% of the shares of the company are sold short.

Institutional Investors Weigh In On Manhattan Bridge Capital

A number of large investors have recently made changes to their positions in LOAN. Osaic Holdings Inc. lifted its holdings 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 worth $31,000 after purchasing an additional 3,292 shares during the last quarter. RW Investment Management LLC bought a new stake in shares of Manhattan Bridge Capital during the 3rd quarter worth $71,000. Bridgeway Capital Management LLC grew its stake in Manhattan Bridge Capital by 28.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 19,516 shares of the credit services provider’s stock valued at $91,000 after buying an additional 4,300 shares during the last quarter. Rothschild Wealth LLC acquired a new position in Manhattan Bridge Capital in the 4th quarter valued at $118,000. Finally, Kestra Advisory Services LLC raised its holdings in Manhattan Bridge Capital by 94.2% in the 4th quarter. Kestra Advisory Services LLC now owns 25,877 shares of the credit services provider’s stock worth $120,000 after acquiring an additional 12,553 shares during the period. Institutional investors and hedge funds own 21.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Manhattan Bridge Capital from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Manhattan Bridge Capital currently has an average rating of “Hold”.

Manhattan Bridge Capital Price Performance

Shares of LOAN traded down $0.02 during midday trading on Friday, reaching $4.24. The stock had a trading volume of 22,922 shares, compared to its average volume of 38,611. The company has a market capitalization of $48.46 million, a P/E ratio of 9.64 and a beta of 0.14. The firm’s 50 day moving average price is $4.33 and its 200-day moving average price is $4.44. Manhattan Bridge Capital has a 52 week low of $4.13 and a 52 week high of $5.80.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its earnings results on Thursday, April 16th. The credit services provider reported $0.11 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $2.07 million for the quarter, compared to the consensus estimate of $2.18 million.

Manhattan Bridge Capital Announces Dividend

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

Manhattan Bridge Capital Company Profile

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.