Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) Short Interest Up 24.7% in March

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN - Get Free Report) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totalling 11,600 shares, a growth of 24.7% from the March 15th total of 9,300 shares. Approximately 0.1% of the company's stock are short sold. Based on an average daily volume of 17,300 shares, the days-to-cover ratio is currently 0.7 days.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Manhattan Bridge Capital in a report on Thursday. They issued a "strong-buy" rating for the company.

Manhattan Bridge Capital Price Performance

NASDAQ:LOAN traded down $0.01 during trading hours on Friday, hitting $5.15. 10,107 shares of the company were exchanged, compared to its average volume of 19,763. Manhattan Bridge Capital has a 52-week low of $4.74 and a 52-week high of $6.05. The stock has a market capitalization of $58.91 million, a price-to-earnings ratio of 10.51 and a beta of 0.26. The company's 50 day moving average price is $5.49 and its 200-day moving average price is $5.50.

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

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 $0.115 dividend. 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 8.93%. Manhattan Bridge Capital's dividend payout ratio is currently 95.83%.

Hedge Funds Weigh In On Manhattan Bridge Capital

Several hedge funds and other institutional investors have recently bought and sold shares of LOAN. Advisory Services Network LLC purchased a new stake in shares of Manhattan Bridge Capital in the 4th quarter valued at $97,000. OLIO Financial Planning acquired a new stake in Manhattan Bridge Capital during the 4th quarter worth about $117,000. Atria Wealth Solutions Inc. grew its position in Manhattan Bridge Capital by 13.5% during the 4th quarter. Atria Wealth Solutions Inc. now owns 27,885 shares of the credit services provider's stock worth $159,000 after purchasing an additional 3,324 shares during the period. NewEdge Advisors LLC raised its stake in shares of Manhattan Bridge Capital by 28.4% during the 4th quarter. NewEdge Advisors LLC now owns 28,074 shares of the credit services provider's stock valued at $157,000 after buying an additional 6,215 shares during the last quarter. Finally, LPL Financial LLC acquired a new position in shares of Manhattan Bridge Capital in the 4th quarter valued at about $169,000. Institutional investors and hedge funds own 21.84% of the company's stock.

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.