Short Interest in Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) Declines By 24.3%

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN - Get Free Report) saw a large decline in short interest during the month of May. As of May 15th, there was short interest totalling 19,600 shares, a decline of 24.3% from the April 30th total of 25,900 shares. Based on an average trading volume of 19,200 shares, the short-interest ratio is currently 1.0 days. Approximately 0.2% of the company's shares are short sold.

Institutional Investors Weigh In On Manhattan Bridge Capital

Hedge funds have recently modified their holdings of the company. Advisory Services Network LLC purchased a new position in shares of Manhattan Bridge Capital during the 4th quarter worth approximately $97,000. Kingsview Wealth Management LLC acquired a new position in Manhattan Bridge Capital in the 1st quarter valued at about $121,000. OLIO Financial Planning lifted its position in shares of 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 purchasing an additional 3,665 shares in the last quarter. Atria Wealth Solutions Inc. grew its holdings in shares of Manhattan Bridge Capital by 13.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 27,885 shares of the credit services provider's stock valued at $159,000 after purchasing an additional 3,324 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in 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 worth $157,000 after buying an additional 6,215 shares during the period. Hedge funds and other institutional investors own 21.84% of the company's stock.

Analyst Upgrades and Downgrades

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

Manhattan Bridge Capital Price Performance

Shares of Manhattan Bridge Capital stock traded up $0.07 during trading on Thursday, reaching $5.17. 1,004 shares of the stock traded hands, compared to its average volume of 18,588. The business has a fifty day simple moving average of $5.21 and a two-hundred day simple moving average of $5.45. Manhattan Bridge Capital has a 52-week low of $4.74 and a 52-week high of $6.05. The company has a market capitalization of $59.14 million, a price-to-earnings ratio of 10.55 and a beta of 0.33.

Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) last issued 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. The business had revenue of $2.27 million for the quarter. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%.

Manhattan Bridge Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 8th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 8.90%. The ex-dividend date of this dividend is Tuesday, July 8th. Manhattan Bridge Capital's dividend payout ratio is presently 97.87%.

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.