Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) Short Interest Up 50.6% in December

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) was the target of a significant 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. Currently, 0.3% of the shares of the company are sold short. Based on an average daily trading volume, of 19,500 shares, the short-interest ratio is presently 1.2 days.

Manhattan Bridge Capital Stock Up 1.2 %

NASDAQ:LOAN traded up $0.07 during midday trading on Monday, reaching $5.76. The stock had a trading volume of 37,041 shares, compared to its average volume of 20,610. The stock has a market cap of $65.89 million, a P/E ratio of 11.76 and a beta of 0.57. The firm has a fifty day simple moving average of $5.44 and a two-hundred day simple moving average of $5.34. Manhattan Bridge Capital has a 12-month low of $4.60 and a 12-month high of $5.90.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. The business had revenue of $2.31 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.115 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.46 annualized dividend and a dividend yield of 7.99%. Manhattan Bridge Capital’s dividend payout ratio is currently 93.88%.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Manhattan Bridge Capital in a research report on Wednesday, December 25th. They issued a “strong-buy” rating on the stock.

Institutional Trading of Manhattan Bridge Capital

A number of institutional investors have recently modified their holdings of the business. Soltis Investment Advisors LLC purchased a new position in Manhattan Bridge Capital in the third quarter worth $14,758,000. International Assets Investment Management LLC increased its holdings in shares of Manhattan Bridge Capital by 441.5% in 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 purchasing an additional 119,595 shares in the last quarter. Beese Fulmer Investment Management Inc. lifted its stake in shares of Manhattan Bridge Capital by 53.4% in the third quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock valued at $724,000 after purchasing an additional 45,222 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Manhattan Bridge Capital by 13.3% in the second quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider’s stock valued at $963,000 after purchasing an additional 21,950 shares during the period. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in Manhattan Bridge Capital by 35.7% during the second quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock worth $120,000 after buying an additional 6,117 shares in the last quarter. 21.84% of the stock is currently owned by hedge funds and other institutional investors.

About Manhattan Bridge Capital

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.