Manhattan Bridge Capital Inc. (NASDAQ:LOAN) Short Interest Update

Manhattan Bridge Capital Inc. (NASDAQ:LOAN) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totalling 3,800 shares, an increase of 153.3% from the August 30th total of 1,500 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 21,000 shares, the days-to-cover ratio is currently 0.2 days.

Separately, Maxim Group set a $8.00 price target on shares of Manhattan Bridge Capital and gave the stock a “buy” rating in a report on Wednesday, August 7th.

LOAN stock opened at $6.28 on Friday. The company’s 50 day moving average is $6.24 and its 200 day moving average is $6.21. The stock has a market cap of $61.33 million, a price-to-earnings ratio of 13.51 and a beta of 0.29. Manhattan Bridge Capital has a 1-year low of $5.34 and a 1-year high of $6.73.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its quarterly earnings data on Friday, July 26th. The credit services provider reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.01). The company had revenue of $1.78 million during the quarter. Manhattan Bridge Capital had a return on equity of 13.60% and a net margin of 60.04%.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Thursday, October 10th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 7.64%. The ex-dividend date of this dividend is Wednesday, October 9th.

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its position in Manhattan Bridge Capital by 23.0% during the second quarter. BlackRock Inc. now owns 19,779 shares of the credit services provider’s stock valued at $127,000 after acquiring an additional 3,704 shares during the last quarter. Aptus Capital Advisors LLC bought a new position in Manhattan Bridge Capital during the second quarter valued at approximately $37,000. Capital Planning Advisors LLC grew its position in Manhattan Bridge Capital by 35.9% during the second quarter. Capital Planning Advisors LLC now owns 73,403 shares of the credit services provider’s stock valued at $73,000 after acquiring an additional 19,374 shares during the last quarter. National Asset Management Inc. grew its position in Manhattan Bridge Capital by 20.1% during the second quarter. National Asset Management Inc. now owns 35,849 shares of the credit services provider’s stock valued at $230,000 after acquiring an additional 6,000 shares during the last quarter. Finally, Shufro Rose & Co. LLC grew its position in Manhattan Bridge Capital by 33.0% during the second quarter. Shufro Rose & Co. LLC now owns 95,625 shares of the credit services provider’s stock valued at $612,000 after acquiring an additional 23,700 shares during the last quarter. Institutional investors own 14.57% of the company’s stock.

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. It offers short-term, secured, and non-banking loans to real estate investors to fund their acquisition, renovation, rehabilitation, or enhancement of properties in the New York metropolitan area.

See Also: P/E Growth (PEG)

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