Short Interest in Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) Increases By 24.7%

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN - Get Free Report) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 11,600 shares, a growth of 24.7% from the March 15th total of 9,300 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 17,300 shares, the short-interest ratio is currently 0.7 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in Manhattan Bridge Capital by 2.7% during the third quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider's stock valued at $635,000 after purchasing an additional 3,008 shares during the last quarter. Atria Wealth Solutions Inc. lifted its stake in 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. Fortress Financial Solutions LLC purchased a new position in Manhattan Bridge Capital in the 4th quarter worth approximately $685,000. OLIO Financial Planning purchased a new position in shares of Manhattan Bridge Capital in the 4th quarter worth about $117,000. Finally, Hardy Reed LLC increased its position in shares of Manhattan Bridge Capital by 7.8% during the 4th quarter. Hardy Reed LLC now owns 370,499 shares of the credit services provider's stock valued at $2,075,000 after purchasing an additional 26,733 shares during the last quarter. 21.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Manhattan Bridge Capital Trading Up 2.4 %

Shares of NASDAQ:LOAN traded up $0.13 during trading on Thursday, reaching $5.25. 903 shares of the stock were exchanged, compared to its average volume of 17,505. The stock has a 50-day moving average price of $5.51 and a 200-day moving average price of $5.51. Manhattan Bridge Capital has a 12 month low of $4.74 and a 12 month high of $6.05. The firm has a market cap of $60.00 million, a PE ratio of 10.70 and a beta of 0.26.

Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) last announced its quarterly 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 company had revenue of $2.27 million for the quarter. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%.

Manhattan Bridge Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 8th will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Tuesday, July 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.77%. Manhattan Bridge Capital's payout ratio is presently 95.83%.

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.