Manhattan Bridge Capital, Inc (NASDAQ:LOAN) Sees Large Drop in Short Interest

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) saw a large decline in short interest during the month of February. As of February 13th, there was short interest totaling 4,916 shares, a decline of 40.2% from the January 29th total of 8,225 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 21,338 shares, the short-interest ratio is presently 0.2 days. Based on an average daily volume of 21,338 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LOAN. Melia Wealth LLC boosted its stake in Manhattan Bridge Capital by 2.6% during the 4th quarter. Melia Wealth LLC now owns 447,638 shares of the credit services provider’s stock worth $2,082,000 after purchasing an additional 11,173 shares during the last quarter. Vanguard Group Inc. boosted its position in Manhattan Bridge Capital by 2.5% during the third quarter. Vanguard Group Inc. now owns 383,385 shares of the credit services provider’s stock worth $2,116,000 after acquiring an additional 9,330 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in Manhattan Bridge Capital by 28.8% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 363,572 shares of the credit services provider’s stock valued at $1,996,000 after acquiring an additional 81,220 shares in the last quarter. Beese Fulmer Investment Management Inc. raised its holdings in Manhattan Bridge Capital by 200.9% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 343,376 shares of the credit services provider’s stock valued at $1,597,000 after acquiring an additional 229,244 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Manhattan Bridge Capital by 4.5% in the 4th quarter. Renaissance Technologies LLC now owns 181,728 shares of the credit services provider’s stock worth $845,000 after purchasing an additional 7,900 shares in the last quarter. Hedge funds and other institutional investors own 21.84% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Manhattan Bridge Capital Stock Down 1.6%

Shares of LOAN opened at $4.38 on Friday. The company has a market capitalization of $50.11 million, a price-to-earnings ratio of 9.52 and a beta of 0.25. Manhattan Bridge Capital has a 52 week low of $4.29 and a 52 week high of $6.05. The stock’s 50-day moving average price is $4.57 and its 200-day moving average price is $4.93.

Manhattan Bridge Capital Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 8th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 10.0%. The ex-dividend date of this dividend is Wednesday, April 8th. Manhattan Bridge Capital’s payout ratio is 100.00%.

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.