Manhattan Bridge Capital, Inc (NASDAQ:LOAN) Short Interest Up 25.5% in May

Manhattan Bridge Capital, Inc (NASDAQ:LOAN - Get Free Report) was the recipient of a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 24,600 shares, a growth of 25.5% from the May 15th total of 19,600 shares. Based on an average daily trading volume, of 20,100 shares, the short-interest ratio is presently 1.2 days. Approximately 0.3% of the company's stock are short sold.

Manhattan Bridge Capital Price Performance

Shares of LOAN stock traded up $0.05 during trading hours on Wednesday, reaching $5.22. 7,582 shares of the stock were exchanged, compared to its average volume of 18,661. The business's fifty day moving average is $5.15 and its two-hundred day moving average is $5.44. Manhattan Bridge Capital has a 12-month low of $4.74 and a 12-month high of $6.05. The firm has a market capitalization of $59.72 million, a P/E ratio of 11.11 and a beta of 0.29.

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 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.12. The firm had revenue of $2.27 million during the quarter. Manhattan Bridge Capital had a return on equity of 12.68% and a net margin of 58.44%.

Manhattan Bridge Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 8th will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 8.81%. The ex-dividend date of this dividend is Tuesday, July 8th. Manhattan Bridge Capital's dividend payout ratio (DPR) is 97.87%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen assumed coverage on shares of Manhattan Bridge Capital in a research note on Sunday, May 18th. They set a "strong-buy" rating on the stock.

Hedge Funds Weigh In On Manhattan Bridge Capital

Institutional investors have recently modified their holdings of the business. Hardy Reed LLC grew its position in Manhattan Bridge Capital by 4.3% during the 1st quarter. Hardy Reed LLC now owns 386,259 shares of the credit services provider's stock worth $2,283,000 after purchasing an additional 15,760 shares during the last quarter. Melia Wealth LLC lifted its holdings in shares of Manhattan Bridge Capital by 2.8% during the first quarter. Melia Wealth LLC now owns 360,918 shares of the credit services provider's stock worth $2,133,000 after purchasing an additional 9,778 shares during the period. Cary Street Partners Financial LLC acquired a new stake in shares of Manhattan Bridge Capital during the fourth quarter worth $1,684,000. Avant Financial Advisors LLC acquired a new stake in shares of Manhattan Bridge Capital during the fourth quarter worth $1,626,000. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of Manhattan Bridge Capital during the first quarter worth $296,000. 21.84% of the stock is owned by institutional investors and hedge funds.

Manhattan Bridge Capital Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.