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

Key Points

• Manhattan Bridge Capital, Inc (NASDAQ:LOAN) experienced a significant increase in short interest, rising by 51.3% in September, with total short interest reaching 23,000 shares by September 15th.
• The company recently declared a quarterly dividend of $0.115 per share, with a dividend yield of 8.1%, which will be paid to stockholders on October 15th.
• Wall Street analysts currently hold a consensus rating of "Hold" for the stock, with Weiss Ratings reaffirming this rating in late September.

Manhattan Bridge Capital, Inc (NASDAQ:LOAN - Get Free Report) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 23,000 shares, a growth of 51.3% from the August 31st total of 15,200 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average trading volume of 22,500 shares, the days-to-cover ratio is currently 1.0 days. Based on an average trading volume of 22,500 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.3% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "hold (c+)" rating on shares of Manhattan Bridge Capital in a report on Saturday, September 27th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold".

Manhattan Bridge Capital Stock Down 0.4%

LOAN stock traded down $0.02 during trading hours on Tuesday, hitting $5.66. The company's stock had a trading volume of 102,611 shares, compared to its average volume of 19,229. The company has a market capitalization of $64.74 million, a PE ratio of 12.04 and a beta of 0.37. Manhattan Bridge Capital has a 12 month low of $4.74 and a 12 month high of $6.05. The stock has a 50 day moving average price of $5.43 and a two-hundred day moving average price of $5.35.

Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The credit services provider reported $0.12 earnings per share for the quarter, hitting analysts' consensus estimates of $0.12. Manhattan Bridge Capital had a net margin of 59.04% and a return on equity of 12.68%. The business had revenue of $2.36 million during the quarter.

Manhattan Bridge Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 8th will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Wednesday, October 8th. This represents a $0.46 annualized dividend and a dividend yield of 8.1%. Manhattan Bridge Capital's dividend payout ratio (DPR) is presently 97.87%.

Institutional Trading of Manhattan Bridge Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. boosted its position in shares of Manhattan Bridge Capital by 140.7% during the second quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider's stock worth $31,000 after purchasing an additional 3,292 shares in the last quarter. Certuity LLC bought a new stake in Manhattan Bridge Capital during the second quarter worth about $306,000. Fortress Financial Solutions LLC raised its position in 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. International Assets Investment Management LLC acquired a new position in Manhattan Bridge Capital during the second quarter worth approximately $149,000. Finally, Frazier Financial Advisors LLC acquired a new position in shares of Manhattan Bridge Capital during the 2nd quarter worth approximately $112,000. 21.84% of the stock is currently owned by institutional investors and hedge funds.

About Manhattan Bridge Capital

Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. The company offers short-term, secured, and non-banking loans to real estate investors to fund acquisition, renovation, rehabilitation, or development of residential or commercial properties.

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