Manhattan Bridge Capital, Inc (NASDAQ:LOAN) Shares Shorted: Short Interest Down 42.4% in September

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) saw a large decrease in short interest during the month of September. As of September 15th, there was short interest totaling 10,871 shares, a decrease of 42.4% from the August 31st total of 18,868 shares. Based on an average daily volume of 22,186 shares, the short-interest ratio is presently 0.5 days. Currently, 0.1% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Manhattan Bridge Capital from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold”.

Manhattan Bridge Capital Trading Down 0.5%

LOAN stock traded down $0.02 during trading on Wednesday, hitting $3.71. 109,908 shares of the company’s stock were exchanged, compared to its average volume of 24,720. The business has a 50-day moving average price of $4.04 and a two-hundred day moving average price of $4.25. The stock has a market capitalization of $42.41 million, a price-to-earnings ratio of 8.83 and a beta of 0.15. Manhattan Bridge Capital has a 52-week low of $3.54 and a 52-week high of $5.80.

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). Manhattan Bridge Capital had a net margin of 58.30% and a return on equity of 11.02%. The company had revenue of $0.00 million during the quarter, compared to analysts’ expectations of $2.04 million.

Manhattan Bridge Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Thursday, October 8th will be issued a $0.11 dividend. The ex-dividend date is Thursday, October 8th. This represents a $0.44 annualized dividend and a dividend yield of 11.9%. Manhattan Bridge Capital’s dividend payout ratio is presently 104.76%.

Insider Buying and Selling at Manhattan Bridge Capital

In other news, CEO Assaf Ran acquired 8,000 shares of Manhattan Bridge Capital stock in a transaction dated Tuesday, July 28th. The shares were acquired at an average cost of $3.99 per share, for a total transaction of $31,920.00. Following the acquisition, the chief executive officer owned 1,235,000 shares of the company’s stock, valued at $4,927,650. This trade represents a 0.65% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 24.60% of the company’s stock.

Institutional Investors Weigh In On Manhattan Bridge Capital

Hedge funds and other institutional investors have recently bought and sold shares of the stock. RW Investment Management LLC purchased a new stake in Manhattan Bridge Capital in the second quarter valued at $59,000. Eclectic Associates Inc. ADV purchased a new position in shares of Manhattan Bridge Capital during the second quarter worth about $190,000. BlackRock Inc. acquired a new stake in shares of Manhattan Bridge Capital during the second quarter worth about $198,000. Renaissance Technologies LLC increased its position in shares of Manhattan Bridge Capital by 7.9% during the first quarter. Renaissance Technologies LLC now owns 196,018 shares of the credit services provider’s stock worth $872,000 after purchasing an additional 14,290 shares in the last quarter. Finally, Frazier Financial Advisors LLC lifted its holdings in shares of Manhattan Bridge Capital by 156.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 203,866 shares of the credit services provider’s stock valued at $907,000 after purchasing an additional 124,229 shares during the last quarter. 21.84% of the stock is currently owned by institutional investors and hedge funds.

About Manhattan Bridge Capital

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) is a real estate finance company that originates, services and manages short-term, secured loans. Its lending activities primarily involve first mortgage loans backed by residential, multifamily and commercial properties.

The company generally provides financing to real estate investors and developers, including borrowers who may not be served by traditional banks. Its loans are secured by the underlying property and are intended to support acquisitions, renovations, construction and other real estate-related activities.

Manhattan Bridge Capital has historically focused on properties in the New York metropolitan area, including New York City and surrounding markets.