Manhattan Bridge Capital, Inc. (NASDAQ: LOAN) benefited from a significant increase in short interest during the month of November. As of November 30, there was short interest totaling 13,500 shares, an increase of 22.7% from the total of 11,000 shares as of November 15. Currently 0.2% of stocks are sold short. Based on an average trading volume of 52,400 shares, the short-term interest ratio is currently 0.3 days.
A number of institutional investors have recently increased or reduced their stakes in the company. Clear Creek Financial Management LLC purchased a new equity interest in Manhattan Bridge Capital during the second quarter valued at approximately $ 61,000. Pinnacle Wealth Planning Services Inc. purchased a new equity interest in Manhattan Bridge Capital during the third quarter valued at approximately $ 50,000. Schneider Downs Wealth Management Advisors LP purchased a new equity stake in Manhattan Bridge Capital during the third quarter for a value of approximately $ 330,000. PDS Planning Inc purchased a new equity stake in Manhattan Bridge Capital during the third quarter valued at approximately $ 223,000. Finally, Shufro Rose & Co. LLC increased its stake in Manhattan Bridge Capital shares by 28.1% during the third quarter. Shufro Rose & Co. LLC now owns 142,344 shares of the credit service provider valued at $ 968,000 after purchasing an additional 31,219 shares in the last quarter. Hedge funds and other institutional investors hold 13.48% of the company’s shares.
Manhattan Bridge Capital stock traded up $ 0.06 at noon on Friday, reaching $ 5.98. The company’s shares had a trading volume of 32,338 shares, compared to its average volume of 44,039. Manhattan Bridge Capital has a 52-week low of $ 4.89 and a 52-week high of $ 8.05. . The company has a 50-day moving average price of $ 6.07 and a 200-day moving average price of $ 6.43. The stock has a market cap of $ 68.74 million, a PE ratio of 13.91 and a beta of 0.60.
Manhattan Bridge Capital (NASDAQ: LOAN) last reported its results on Tuesday, October 19. The credit services provider reported earnings per share (EPS) of $ 0.10 for the quarter, missing Zacks’ consensus estimate of $ 0.11 of ($ 0.01). Manhattan Bridge Capital had a net margin of 62.00% and a return on equity of 11.84%.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 18. Shareholders of record on Friday, December 31 will receive a dividend of $ 0.125. This represents a dividend of $ 0.50 on an annualized basis and a yield of 8.36%. The ex-dividend date is Thursday, December 30. Manhattan Bridge Capital’s dividend payout ratio is currently 116.28%.
Manhattan Bridge Capital Company Profile
Manhattan Bridge Capital, Inc. is engaged in the creation, management and management of a portfolio of senior mortgages. It offers short-term secured non-bank loans to real estate investors to finance the acquisition and construction of properties located in the New York metropolitan area. The company was founded by Assaf N.
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