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

Key Points

• Short interest rose 17.4% in April to 21,927 shares (about 0.3% of shares), leaving a short-interest ratio of 0.4 days based on average daily volume.
• Dividend declared of $0.11 quarterly ($0.44 annualized) implying a 10.0% yield; the ex-dividend and record date is Wednesday, July 8 and the payment is scheduled for July 15, with a 100% payout ratio.
• Manhattan Bridge reported $0.11 EPS for the quarter, missing the $0.12 consensus and posting $2.07M in revenue versus $2.18M expected; the company has a market cap of roughly $50.1M and a P/E of 9.95.

Manhattan Bridge Capital, Inc (NASDAQ:LOAN - Get Free Report) was the target of a large growth in short interest in April. As of April 15th, there was short interest totaling 21,927 shares, a growth of 17.4% from the March 31st total of 18,681 shares. Based on an average daily trading volume, of 49,069 shares, the short-interest ratio is presently 0.4 days. Currently, 0.3% of the shares of the company are sold short.

Manhattan Bridge Capital Trading Down 0.7%

Manhattan Bridge Capital stock opened at $4.38 on Thursday. The firm has a 50 day simple moving average of $4.43 and a 200 day simple moving average of $4.63. Manhattan Bridge Capital has a 1-year low of $4.13 and a 1-year high of $5.85. The firm has a market capitalization of $50.06 million, a price-to-earnings ratio of 9.95 and a beta of 0.21.

Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The credit services provider reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). Manhattan Bridge Capital had a net margin of 59.24% and a return on equity of 11.59%. The firm had revenue of $2.07 million during the quarter, compared to the consensus estimate of $2.18 million.

Manhattan Bridge Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 8th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 10.0%. The ex-dividend date of this dividend is Wednesday, July 8th. Manhattan Bridge Capital's dividend payout ratio (DPR) is presently 100.00%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Manhattan Bridge Capital from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, April 24th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of "Hold".

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Osaic Holdings Inc. boosted its holdings in Manhattan Bridge Capital by 140.7% in the 2nd quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider's stock valued at $31,000 after purchasing an additional 3,292 shares during the period. RW Investment Management LLC bought a new position in Manhattan Bridge Capital in the 3rd quarter valued at $71,000. Bridgeway Capital Management LLC boosted its holdings in Manhattan Bridge Capital by 28.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 19,516 shares of the credit services provider's stock valued at $91,000 after purchasing an additional 4,300 shares during the period. Briaud Financial Planning Inc bought a new position in Manhattan Bridge Capital in the 3rd quarter valued at $136,000. Finally, Rothschild Wealth LLC bought a new position in Manhattan Bridge Capital in the 4th quarter valued at $118,000. 21.84% of the stock is owned by institutional investors.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc NASDAQ: LOAN is a publicly traded business development company (BDC) that specializes in providing financing solutions to small and medium-sized businesses across the United States. The firm structures short-term bridge loans, senior secured debt and mezzanine debt facilities to support clients' growth initiatives, working capital needs and acquisition financing requirements. Its investment approach is designed to deliver flexible, asset-backed financing tailored to the unique cash-flow profiles of its portfolio companies.

Operating primarily from its New York headquarters, Manhattan Bridge Capital partners with businesses in a variety of sectors, including business services, consumer products, healthcare and industrial manufacturing.

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