Manhattan Bridge Capital, Inc (NASDAQ:LOAN - Get Free Report) saw a large decline in short interest in the month of August. As of August 15th, there was short interest totaling 16,600 shares, adeclineof39.9% from the July 31st total of 27,600 shares. Based on an average trading volume of 19,200 shares, the short-interest ratio is presently 0.9 days. Approximately0.2% of the company's stock are sold short. Approximately0.2% of the company's stock are sold short. Based on an average trading volume of 19,200 shares, the short-interest ratio is presently 0.9 days.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen initiated coverage on shares of Manhattan Bridge Capital in a research report on Sunday, May 18th. They set a "strong-buy" rating on the stock.
Get Our Latest Stock Report on Manhattan Bridge Capital
Manhattan Bridge Capital Stock Up 0.4%
LOAN traded up $0.02 during trading on Tuesday, hitting $5.36. 7,155 shares of the company's stock were exchanged, compared to its average volume of 18,300. The business's 50 day moving average is $5.46 and its two-hundred day moving average is $5.37. Manhattan Bridge Capital has a fifty-two week low of $4.74 and a fifty-two week high of $6.05. The stock has a market cap of $61.32 million, a P/E ratio of 11.40 and a beta of 0.35.
Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The credit services provider reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. Manhattan Bridge Capital had a net margin of 59.04% and a return on equity of 12.68%. The firm had revenue of $2.36 million for the quarter.
Manhattan Bridge Capital Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 8th will be paid a $0.115 dividend. The ex-dividend date is Wednesday, October 8th. This represents a $0.46 annualized dividend and a dividend yield of 8.6%. Manhattan Bridge Capital's dividend payout ratio is presently 97.87%.
Institutional Trading of Manhattan Bridge Capital
Institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. grew its stake in shares of 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 worth $31,000 after acquiring an additional 3,292 shares in the last quarter. Frazier Financial Advisors LLC bought a new stake in shares of Manhattan Bridge Capital in the 2nd quarter worth $112,000. Kingsview Wealth Management LLC bought a new stake in shares of Manhattan Bridge Capital in the 1st quarter worth $121,000. OLIO Financial Planning grew its stake in shares of Manhattan Bridge Capital by 17.5% in the 1st quarter. OLIO Financial Planning now owns 24,568 shares of the credit services provider's stock worth $145,000 after acquiring an additional 3,665 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Manhattan Bridge Capital in the 2nd quarter worth $149,000. Institutional investors own 21.84% of the company's stock.
About Manhattan Bridge Capital
(
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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.
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