Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) Short Interest Down 40.0% in November

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) was the target of a significant decline in short interest in November. As of November 15th, there was short interest totalling 15,000 shares, a decline of 40.0% from the October 31st total of 25,000 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average trading volume of 17,400 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Trading of Manhattan Bridge Capital

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Soltis Investment Advisors LLC bought a new stake in Manhattan Bridge Capital in the third quarter valued at about $14,758,000. Renaissance Technologies LLC grew its holdings in shares of Manhattan Bridge Capital by 13.3% during 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 last quarter. International Assets Investment Management LLC grew its holdings in shares of Manhattan Bridge Capital by 441.5% during the third 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 during the last quarter. Beese Fulmer Investment Management Inc. grew its holdings in shares of Manhattan Bridge Capital by 53.4% during 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 last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of 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. 21.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Manhattan Bridge Capital in a research note on Saturday, November 23rd. They issued a “strong-buy” rating on the stock.

Manhattan Bridge Capital Stock Performance

Shares of NASDAQ:LOAN traded up $0.08 during trading on Thursday, hitting $5.36. The company’s stock had a trading volume of 13,983 shares, compared to its average volume of 20,521. Manhattan Bridge Capital has a fifty-two week low of $4.50 and a fifty-two week high of $5.90. The stock’s 50-day moving average price is $5.42 and its two-hundred day moving average price is $5.29. The company has a market capitalization of $61.32 million, a PE ratio of 10.94 and a beta of 0.58.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its quarterly earnings data 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 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 disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 8.58%. The ex-dividend date is Tuesday, December 31st. Manhattan Bridge Capital’s dividend payout ratio is currently 93.88%.

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.