Manhattan Bridge Capital Inc. (NASDAQ:LOAN) was the target of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 2,100 shares, a decline of 56.3% from the July 31st total of 4,800 shares. Based on an average daily trading volume, of 20,300 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the company’s stock are sold short.
Manhattan Bridge Capital stock traded down $0.01 during trading hours on Friday, hitting $6.28. The stock had a trading volume of 5,770 shares, compared to its average volume of 14,144. The stock has a market capitalization of $60.71 million, a P/E ratio of 13.24 and a beta of 0.28. Manhattan Bridge Capital has a 12-month low of $5.34 and a 12-month high of $6.73. The stock’s 50-day moving average price is $6.18 and its 200-day moving average price is $6.22.
Manhattan Bridge Capital (NASDAQ:LOAN) last issued its earnings results on Friday, July 26th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.01). The firm 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Thursday, October 10th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $0.48 annualized dividend and a yield of 7.64%.
Separately, Maxim Group set a $8.00 target price on shares of Manhattan Bridge Capital and gave the stock a “buy” rating in a report on Wednesday, August 7th.
Institutional investors have recently modified their holdings of the business. Aptus Capital Advisors LLC purchased a new position in Manhattan Bridge Capital in the second quarter worth about $37,000. Creative Planning purchased a new position in Manhattan Bridge Capital in the first quarter worth about $49,000. Capital Planning Advisors LLC raised its holdings in Manhattan Bridge Capital by 35.9% in the second quarter. Capital Planning Advisors LLC now owns 73,403 shares of the credit services provider’s stock worth $73,000 after buying an additional 19,374 shares during the last quarter. BlackRock Inc. raised its holdings in Manhattan Bridge Capital by 23.0% in the second quarter. BlackRock Inc. now owns 19,779 shares of the credit services provider’s stock worth $127,000 after buying an additional 3,704 shares during the last quarter. Finally, TCG Advisors LP purchased a new position in shares of Manhattan Bridge Capital during the first quarter valued at approximately $171,000. 14.57% of the stock is owned by institutional investors and hedge funds.
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.
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