Manhattan Bridge Capital, Inc (NASDAQ:LOAN) Short Interest Up 19.3% in February

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) saw a significant increase in short interest in the month of February. As of February 27th, there was short interest totaling 5,866 shares, an increase of 19.3% from the February 12th total of 4,916 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 18,706 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily trading volume, of 18,706 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LOAN. Fortress Financial Solutions LLC lifted its position in shares of Manhattan Bridge Capital by 3.9% during the second quarter. Fortress Financial Solutions LLC now owns 120,282 shares of the credit services provider’s stock worth $658,000 after acquiring an additional 4,522 shares in the last quarter. Certuity LLC purchased a new position in shares of Manhattan Bridge Capital in the second quarter valued at $306,000. Osaic Holdings Inc. grew its position in shares of Manhattan Bridge Capital by 140.7% in the second quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider’s stock valued at $31,000 after purchasing an additional 3,292 shares in the last quarter. Frazier Financial Advisors LLC raised its stake in shares of Manhattan Bridge Capital by 42.1% during the 3rd quarter. Frazier Financial Advisors LLC now owns 29,126 shares of the credit services provider’s stock valued at $160,000 after purchasing an additional 8,626 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Manhattan Bridge Capital by 2.5% during 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 in the last quarter. 21.84% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Bridge Capital Price Performance

NASDAQ:LOAN traded down $0.01 on Tuesday, reaching $4.32. 29,934 shares of the company’s stock were exchanged, compared to its average volume of 20,640. The firm has a market cap of $49.42 million, a price-to-earnings ratio of 9.39 and a beta of 0.25. Manhattan Bridge Capital has a 52 week low of $4.24 and a 52 week high of $6.05. The stock has a fifty day simple moving average of $4.47 and a 200-day simple moving average of $4.84.

Manhattan Bridge Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 8th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 10.2%. The ex-dividend date is Wednesday, April 8th. Manhattan Bridge Capital’s dividend payout ratio is presently 100.00%.

Analyst Upgrades and Downgrades

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

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.