Short Interest in Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) Increases By 111.2%

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN - Get Free Report) was the recipient of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 24,500 shares, a growth of 111.2% from the March 31st total of 11,600 shares. Currently, 0.3% of the company's stock are sold short. Based on an average daily volume of 17,800 shares, the short-interest ratio is presently 1.4 days.

Hedge Funds Weigh In On Manhattan Bridge Capital

Institutional investors and hedge funds have recently bought and sold shares of the company. Hardy Reed LLC grew its stake in shares of Manhattan Bridge Capital by 4.3% during the first quarter. Hardy Reed LLC now owns 386,259 shares of the credit services provider's stock worth $2,283,000 after acquiring an additional 15,760 shares during the last quarter. Kingsview Wealth Management LLC purchased a new stake in Manhattan Bridge Capital during the 1st quarter worth approximately $121,000. OLIO Financial Planning increased its stake in Manhattan Bridge Capital by 17.5% during the 1st quarter. OLIO Financial Planning now owns 24,568 shares of the credit services provider's stock valued at $145,000 after purchasing an additional 3,665 shares in the last quarter. Avant Financial Advisors LLC purchased a new position in shares of Manhattan Bridge Capital in the fourth quarter worth $1,626,000. Finally, Gen Wealth Partners Inc lifted its stake in shares of Manhattan Bridge Capital by 5.1% during the fourth quarter. Gen Wealth Partners Inc now owns 38,740 shares of the credit services provider's stock worth $217,000 after buying an additional 1,896 shares during the period. 21.84% of the stock is owned by hedge funds and other institutional investors.

Manhattan Bridge Capital Trading Up 0.7 %

Shares of LOAN traded up $0.04 during trading hours on Friday, hitting $5.17. The company had a trading volume of 30,654 shares, compared to its average volume of 19,708. The company has a market capitalization of $59.08 million, a PE ratio of 10.54 and a beta of 0.33. Manhattan Bridge Capital has a one year low of $4.74 and a one year high of $6.05. The company's fifty day moving average price is $5.45 and its two-hundred day moving average price is $5.49.

Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) last announced its earnings results on Thursday, April 24th. The credit services provider reported $0.12 EPS for the quarter, hitting analysts' consensus estimates of $0.12. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%. The business had revenue of $2.27 million during the quarter.

Manhattan Bridge Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 8th will be paid a $0.115 dividend. The ex-dividend date of this dividend is Tuesday, July 8th. This represents a $0.46 annualized dividend and a yield of 8.91%. Manhattan Bridge Capital's dividend payout ratio (DPR) is 97.87%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Manhattan Bridge Capital in a report on Friday. They set a "strong-buy" rating on the stock.

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.