Manhattan Bridge Capital Inc. (NASDAQ:LOAN) was the target of a large growth in short interest in the month of May. As of May 29th, there was short interest totalling 18,900 shares, a growth of 136.3% from the May 14th total of 8,000 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 48,300 shares, the short-interest ratio is presently 0.4 days.
In related news, CEO Assaf Ran purchased 8,000 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average price of $3.23 per share, for a total transaction of $25,840.00. Insiders have purchased a total of 25,000 shares of company stock valued at $87,440 in the last ninety days. 28.70% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in LOAN. Moneta Group Investment Advisors LLC increased its position in shares of Manhattan Bridge Capital by 5.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 32,233 shares of the credit services provider’s stock valued at $205,000 after acquiring an additional 1,643 shares during the last quarter. Shufro Rose & Co. LLC boosted its position in Manhattan Bridge Capital by 2.7% in the first quarter. Shufro Rose & Co. LLC now owns 114,125 shares of the credit services provider’s stock worth $467,000 after purchasing an additional 3,000 shares during the last quarter. National Asset Management Inc. grew its stake in Manhattan Bridge Capital by 7.2% in the 1st quarter. National Asset Management Inc. now owns 56,799 shares of the credit services provider’s stock valued at $233,000 after purchasing an additional 3,807 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Manhattan Bridge Capital by 50.8% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,443 shares of the credit services provider’s stock valued at $73,000 after purchasing an additional 3,853 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Manhattan Bridge Capital during the 1st quarter worth $29,000. 14.63% of the stock is currently owned by institutional investors.
Shares of Manhattan Bridge Capital stock traded down $0.22 during trading hours on Thursday, reaching $4.30. The company’s stock had a trading volume of 846 shares, compared to its average volume of 41,649. Manhattan Bridge Capital has a one year low of $2.54 and a one year high of $6.72. The company has a market capitalization of $45.74 million, a P/E ratio of 10.11 and a beta of 0.65. The stock’s fifty day simple moving average is $4.19 and its two-hundred day simple moving average is $5.25.
Manhattan Bridge Capital (NASDAQ:LOAN) last issued its quarterly earnings data on Monday, April 13th. The credit services provider reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. The firm had revenue of $1.71 million during the quarter. Manhattan Bridge Capital had a return on equity of 13.40% and a net margin of 60.44%.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Friday, July 10th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, July 9th. This represents a $0.40 annualized dividend and a dividend yield of 9.30%. Manhattan Bridge Capital’s payout ratio is 93.62%.
Several analysts recently weighed in on LOAN shares. ValuEngine lowered Manhattan Bridge Capital from a “hold” rating to a “sell” rating in a research note on Thursday, April 2nd. Maxim Group reissued a “buy” rating and issued a $6.00 price objective on shares of Manhattan Bridge Capital in a research note on Tuesday, April 21st.
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. 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.
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