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

Manhattan Bridge Capital, Inc (NASDAQ:LOAN - Get Free Report) was the target of a significant growth in short interest during 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. Currently, 0.3% of the shares of the stock are short sold. Based on an average daily volume of 20,100 shares, the days-to-cover ratio is currently 1.2 days.

Manhattan Bridge Capital Trading Up 0.2%

Shares of LOAN stock traded up $0.01 during trading hours on Friday, hitting $5.23. The company's stock had a trading volume of 9,115 shares, compared to its average volume of 18,646. The business has a fifty day moving average of $5.16 and a 200-day moving average of $5.43. The stock has a market cap of $59.83 million, a price-to-earnings ratio of 11.13 and a beta of 0.29. Manhattan Bridge Capital has a twelve month low of $4.74 and a twelve month high of $6.05.

Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) last announced its earnings results on Thursday, April 24th. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.12. Manhattan Bridge Capital had a net margin of 58.44% and a return on equity of 12.68%. The firm had revenue of $2.27 million for the quarter.

Manhattan Bridge Capital Announces Dividend

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 given a dividend of $0.115 per share. The ex-dividend date of this dividend is Tuesday, July 8th. This represents a $0.46 dividend on an annualized basis and a yield of 8.80%. Manhattan Bridge Capital's dividend payout ratio (DPR) is currently 97.87%.

Institutional Trading of Manhattan Bridge Capital

A number of hedge funds have recently bought and sold shares of the company. Gen Wealth Partners Inc boosted its position in 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 acquiring an additional 1,896 shares during the last quarter. Atria Wealth Solutions Inc. boosted its position in Manhattan Bridge Capital by 13.5% during the fourth quarter. Atria Wealth Solutions Inc. now owns 27,885 shares of the credit services provider's stock worth $159,000 after acquiring an additional 3,324 shares during the last quarter. OLIO Financial Planning boosted its position in Manhattan Bridge Capital by 17.5% during the first quarter. OLIO Financial Planning now owns 24,568 shares of the credit services provider's stock worth $145,000 after acquiring an additional 3,665 shares during the last quarter. NewEdge Advisors LLC boosted its position in Manhattan Bridge Capital by 28.4% during the fourth quarter. NewEdge Advisors LLC now owns 28,074 shares of the credit services provider's stock worth $157,000 after acquiring an additional 6,215 shares during the last quarter. Finally, Melia Wealth LLC raised its stake in 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. Institutional investors and hedge funds own 21.84% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen started coverage on shares of Manhattan Bridge Capital in a research report on Sunday, May 18th. They issued 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.