Short Interest in Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) Expands By 35.2%

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN - Get Free Report) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 28,800 shares, an increase of 35.2% from the March 15th total of 21,300 shares. Based on an average trading volume of 21,000 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.3% of the company's shares are sold short.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Manhattan Bridge Capital in a research report on Wednesday. They set a "strong-buy" rating on the stock.

Manhattan Bridge Capital Stock Up 1.0 %

NASDAQ:LOAN traded up $0.05 on Friday, reaching $5.08. The company's stock had a trading volume of 15,837 shares, compared to its average volume of 27,439. The firm has a market cap of $58.12 million, a price-to-earnings ratio of 10.58 and a beta of 0.59. Manhattan Bridge Capital has a 12-month low of $4.27 and a 12-month high of $5.29. The stock has a 50 day moving average price of $4.86 and a 200 day moving average price of $4.76.

Manhattan Bridge Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Wednesday, July 10th will be given a $0.115 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $0.46 dividend on an annualized basis and a yield of 9.06%. Manhattan Bridge Capital's payout ratio is currently 95.83%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. National Bank of Canada FI lifted its holdings in shares of Manhattan Bridge Capital by 195.0% in the 4th quarter. National Bank of Canada FI now owns 5,900 shares of the credit services provider's stock worth $28,000 after acquiring an additional 3,900 shares during the last quarter. Independent Wealth Network Inc. acquired a new position in Manhattan Bridge Capital during the third quarter worth $52,000. Certuity LLC purchased a new position in shares of Manhattan Bridge Capital during the fourth quarter worth $54,000. Atria Wealth Solutions Inc. acquired a new stake in shares of Manhattan Bridge Capital in the first quarter valued at $89,000. Finally, Moneta Group Investment Advisors LLC raised its holdings in shares of Manhattan Bridge Capital by 98.4% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 18,589 shares of the credit services provider's stock valued at $94,000 after buying an additional 9,218 shares during the period. Hedge funds and other institutional investors 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.