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

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

Manhattan Bridge Capital Stock Up 0.2 %

Shares of LOAN traded up $0.01 during mid-day trading on Monday, hitting $5.16. 3,990 shares of the company's stock were exchanged, compared to its average volume of 19,709. The firm has a fifty day moving average of $5.48 and a two-hundred day moving average of $5.50. Manhattan Bridge Capital has a twelve month low of $4.74 and a twelve month high of $6.05. The stock has a market cap of $59.03 million, a price-to-earnings ratio of 10.53 and a beta of 0.26.

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

Manhattan Bridge Capital Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Manhattan Bridge Capital in a research note on Thursday. They set a "strong-buy" rating on the stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cary Street Partners Financial LLC bought a new stake in Manhattan Bridge Capital in the 4th quarter valued at $1,684,000. Avant Financial Advisors LLC bought a new stake in Manhattan Bridge Capital in the 4th quarter valued at $1,626,000. Fortress Financial Solutions LLC bought a new stake in Manhattan Bridge Capital in the 4th quarter valued at $685,000. Capital Management Associates Inc bought a new stake in Manhattan Bridge Capital in the 4th quarter valued at $184,000. Finally, LPL Financial LLC bought a new stake in Manhattan Bridge Capital in the 4th quarter valued at $169,000. 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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