Manhattan Bridge Capital Inc. (NASDAQ:LOAN) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 2,100 shares, a drop of 56.3% from the July 31st total of 4,800 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 20,300 shares, the days-to-cover ratio is presently 0.1 days.
Institutional investors have recently made changes to their positions in the business. Aptus Capital Advisors LLC bought a new stake in Manhattan Bridge Capital in the 2nd quarter worth $37,000. Creative Planning bought a new stake in Manhattan Bridge Capital in the 1st quarter worth $49,000. Capital Planning Advisors LLC grew its holdings in Manhattan Bridge Capital by 35.9% in the 2nd quarter. Capital Planning Advisors LLC now owns 73,403 shares of the credit services provider’s stock worth $73,000 after acquiring an additional 19,374 shares during the last quarter. BlackRock Inc. grew its holdings in Manhattan Bridge Capital by 23.0% in the 2nd quarter. BlackRock Inc. now owns 19,779 shares of the credit services provider’s stock worth $127,000 after acquiring an additional 3,704 shares during the last quarter. Finally, TCG Advisors LP bought a new stake in Manhattan Bridge Capital in the 1st quarter worth $171,000. 14.57% of the stock is currently owned by institutional investors and hedge funds.
Separately, Maxim Group set a $8.00 target price on shares of Manhattan Bridge Capital and gave the stock a “buy” rating in a research report on Wednesday, August 7th.
Manhattan Bridge Capital (NASDAQ:LOAN) last announced its quarterly earnings results on Friday, July 26th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 declared 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. This represents a $0.48 dividend on an annualized basis and a yield of 7.64%. The ex-dividend date of this dividend is Wednesday, October 9th.
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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