Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) Short Interest Down 58.9% in January

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN - Get Free Report) experienced a significant drop in short interest in January. As of January 31, the short interest totaled 10,200 shares, which marks a decrease of 58.9% from the 24,800 shares recorded on January 15. Considering the average daily trading volume of 16,600 shares, the current short-interest ratio stands at 0.6 days. This translates to about 0.1% of the company’s total shares being sold short.

Manhattan Bridge Capital Trading Up 0.7%

In trading activity on Thursday, shares of Manhattan Bridge Capital jumped 0.7%, rising by $0.04 to reach $5.61. The trading volume was 7,510 shares, less than the average volume of 13,045 shares. The company's market capitalization is $64.18 million, and it has a price-to-earnings (P/E) ratio of 11.45, with a beta of 0.55. Additionally, the firm’s 50-day simple moving average is $5.59, while the 200-day simple moving average is $5.43. Over the past year, Manhattan Bridge Capital has traded between a low of $4.60 and a high of $5.90.

Manhattan Bridge Capital Announces Dividend

The company has also announced a quarterly dividend, set to be paid on Tuesday, April 15. Shareholders recorded on Tuesday, April 8, will receive a dividend of $0.115 per share, translating to an annualized dividend of $0.46 and a yield of 8.20%. The ex-dividend date is Tuesday, April 8, and the company has a payout ratio of 93.88%.

Hedge Funds Weigh In On Manhattan Bridge Capital

Several hedge funds and institutional investors have made moves regarding their stakes in Manhattan Bridge Capital recently. NewEdge Advisors LLC increased its holdings by 28.4% in the fourth quarter and now owns 28,074 shares worth approximately $157,000 after adding 6,215 shares. Melia Wealth LLC grew its position by 3.0% during the same period, owning now 351,140 shares valued at $1,966,000 post-acquisition of 10,301 shares. Other firms, such as Advisory Services Network LLC and LPL Financial LLC, have also acquired new stakes in the company, indicating increasing institutional interest. Overall, institutional investors hold 21.84% of the firm's stock.

Wall Street Analyst Weigh In

In additional news, StockNews.com has initiated coverage on Manhattan Bridge Capital and assigned a "strong-buy" rating to the stock.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc. is a real estate finance company that specializes in originating, servicing, and managing a portfolio of first mortgage loans across the United States. The company provides short-term, secured, non-banking loans to real estate investors to facilitate the acquisition, renovation, rehabilitation, or development of both residential and commercial properties.

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