Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) Short Interest Update

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN - Get Free Report) was the target of a significant 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 daily volume of 19,200 shares, the short-interest ratio is currently 1.0 days. Approximately 0.2% of the shares of the company are sold short.

Institutional Trading of Manhattan Bridge Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Gen Wealth Partners Inc increased its stake in Manhattan Bridge Capital by 5.1% in the 4th 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 holdings in shares of Manhattan Bridge Capital by 13.5% in 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 in the last quarter. OLIO Financial Planning boosted its stake in Manhattan Bridge Capital by 17.5% in the first quarter. OLIO Financial Planning now owns 24,568 shares of the credit services provider's stock worth $145,000 after buying an additional 3,665 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Manhattan Bridge Capital by 28.4% in the fourth 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 in the last quarter. Finally, Melia Wealth LLC boosted its stake in Manhattan Bridge Capital by 2.8% in the first quarter. Melia Wealth LLC now owns 360,918 shares of the credit services provider's stock worth $2,133,000 after buying an additional 9,778 shares in the last quarter. 21.84% of the stock is currently owned by institutional investors.

Manhattan Bridge Capital Stock Performance

LOAN stock remained flat at $5.10 during midday trading on Thursday. The company's stock had a trading volume of 4,599 shares, compared to its average volume of 18,621. The company's 50-day moving average is $5.19 and its 200-day moving average is $5.45. 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 $58.34 million, a PE ratio of 10.41 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 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. The firm had revenue of $2.27 million for the quarter. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%.

Manhattan Bridge Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 8th will be paid a dividend of $0.115 per share. The ex-dividend date is Tuesday, July 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 9.02%. Manhattan Bridge Capital's payout ratio is 97.87%.

Analysts Set New Price Targets

Separately, Wall Street Zen began coverage on 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.