Manhattan Bridge Capital, Inc (NASDAQ:LOAN) Short Interest Up 17.4% in April

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) was the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totaling 21,927 shares, a growth of 17.4% from the March 31st total of 18,681 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average trading volume of 49,069 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Trading of Manhattan Bridge Capital

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bridgeway Capital Management LLC boosted its position in shares of Manhattan Bridge Capital by 28.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 19,516 shares of the credit services provider’s stock worth $91,000 after buying an additional 4,300 shares during the period. Rothschild Wealth LLC acquired a new stake in shares of Manhattan Bridge Capital in the fourth quarter worth $118,000. Kestra Advisory Services LLC boosted its position in shares of Manhattan Bridge Capital by 94.2% in the fourth quarter. Kestra Advisory Services LLC now owns 25,877 shares of the credit services provider’s stock worth $120,000 after buying an additional 12,553 shares during the period. Gen Wealth Partners Inc acquired a new stake in shares of Manhattan Bridge Capital in the fourth quarter worth $161,000. Finally, Renaissance Technologies LLC boosted its position in shares of Manhattan Bridge Capital by 4.5% in the fourth quarter. Renaissance Technologies LLC now owns 181,728 shares of the credit services provider’s stock worth $845,000 after buying an additional 7,900 shares during the period. Institutional investors and hedge funds own 21.84% of the company’s stock.

Manhattan Bridge Capital Trading Up 0.5%

Shares of NASDAQ LOAN traded up $0.02 during mid-day trading on Friday, reaching $4.35. The company had a trading volume of 20,072 shares, compared to its average volume of 32,420. The stock has a market cap of $49.72 million, a PE ratio of 9.89 and a beta of 0.21. The company has a 50-day moving average price of $4.43 and a two-hundred day moving average price of $4.63. Manhattan Bridge Capital has a 1-year low of $4.13 and a 1-year high of $5.85.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its earnings results on Thursday, April 16th. The credit services provider reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). The business had revenue of $2.07 million during the quarter, compared to analyst estimates of $2.18 million. Manhattan Bridge Capital had a return on equity of 11.59% and a net margin of 59.24%.

Manhattan Bridge Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 8th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 10.1%. The ex-dividend date of this dividend is Wednesday, July 8th. Manhattan Bridge Capital’s dividend payout ratio (DPR) is 100.00%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Manhattan Bridge Capital from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, April 24th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average 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.