Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) Sees Large Increase in Short Interest

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN - Get Free Report) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 23,200 shares, a growth of 50.6% from the November 30th total of 15,400 shares. Based on an average trading volume of 19,500 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.3% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Manhattan Bridge Capital in a research note on Wednesday. They issued a "strong-buy" rating for the company.

Manhattan Bridge Capital Stock Performance

Manhattan Bridge Capital stock traded down $0.01 during midday trading on Friday, reaching $5.69. The stock had a trading volume of 8,589 shares, compared to its average volume of 20,545. Manhattan Bridge Capital has a twelve month low of $4.60 and a twelve month high of $5.90. The stock's 50-day simple moving average is $5.44 and its 200 day simple moving average is $5.34. The stock has a market capitalization of $65.09 million, a PE ratio of 11.61 and a beta of 0.57.

Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 EPS for the quarter, meeting analysts' consensus estimates of $0.12. The firm had revenue of $2.31 million during 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.46 annualized dividend and a dividend yield of 8.08%. Manhattan Bridge Capital's dividend payout ratio is currently 93.88%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LOAN. Soltis Investment Advisors LLC acquired a new position in shares of Manhattan Bridge Capital in the 3rd quarter valued at $14,758,000. Renaissance Technologies LLC increased its stake in shares of Manhattan Bridge Capital by 13.3% during the 2nd quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider's stock worth $963,000 after purchasing an additional 21,950 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Manhattan Bridge Capital by 441.5% during the 3rd quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider's stock valued at $817,000 after acquiring an additional 119,595 shares during the last quarter. Beese Fulmer Investment Management Inc. raised its holdings in Manhattan Bridge Capital by 53.4% in the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider's stock worth $724,000 after acquiring an additional 45,222 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Manhattan Bridge Capital by 2.7% in the third quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider's stock worth $635,000 after acquiring an additional 3,008 shares during the last quarter. 21.84% of the stock is owned by institutional investors and hedge funds.

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.

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