Short Interest in Manhattan Bridge Capital, Inc (NASDAQ:LOAN) Decreases By 41.1%

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) saw a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 22,237 shares, a decline of 41.1% from the July 30th total of 37,755 shares. Based on an average daily volume of 25,549 shares, the short-interest ratio is presently 0.9 days. Currently, 0.3% of the shares of the company are sold short.

Manhattan Bridge Capital Stock Performance

Manhattan Bridge Capital stock traded down $0.01 during midday trading on Wednesday, reaching $4.07. 12,908 shares of the stock were exchanged, compared to its average volume of 29,303. Manhattan Bridge Capital has a 52 week low of $3.90 and a 52 week high of $5.80. The firm has a market cap of $46.50 million, a PE ratio of 9.69 and a beta of 0.16. The company’s fifty day moving average is $4.23 and its 200-day moving average is $4.32.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its quarterly earnings results on Thursday, July 23rd. The credit services provider reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.01). The firm had revenue of $0.00 million during the quarter, compared to the consensus estimate of $2.04 million. Manhattan Bridge Capital had a net margin of 58.30% and a return on equity of 11.02%.

Manhattan Bridge Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 8th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 10.8%. The ex-dividend date is Thursday, October 8th. Manhattan Bridge Capital’s payout ratio is presently 104.76%.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Manhattan Bridge Capital from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Insider Activity at Manhattan Bridge Capital

In other Manhattan Bridge Capital news, CEO Assaf Ran purchased 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were bought at an average cost of $3.99 per share, for a total transaction of $31,920.00. Following the purchase, the chief executive officer owned 1,235,000 shares of the company’s stock, valued at $4,927,650. This represents a 0.65% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 24.60% of the company’s stock.

Hedge Funds Weigh In On Manhattan Bridge Capital

Institutional investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. boosted its position in shares of Manhattan Bridge Capital by 140.7% during the 2nd quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider’s stock valued at $31,000 after acquiring an additional 3,292 shares during the last quarter. RW Investment Management LLC bought a new position in shares of Manhattan Bridge Capital in the second quarter worth approximately $59,000. Bridgeway Capital Management LLC raised its stake in 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 valued at $91,000 after purchasing an additional 4,300 shares in the last quarter. Rothschild Wealth LLC bought a new stake in Manhattan Bridge Capital during the fourth quarter valued at approximately $118,000. Finally, Kestra Advisory Services LLC lifted its position in Manhattan Bridge Capital by 94.2% during the fourth quarter. Kestra Advisory Services LLC now owns 25,877 shares of the credit services provider’s stock valued at $120,000 after purchasing an additional 12,553 shares during the last quarter. 21.84% of the stock is currently owned by institutional investors.

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.